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House panel hears bill to require builders to report new‑home sale prices to MLS to improve appraisal equity
Summary
Sponsors and civil‑rights advocates told the committee that entering final sale prices for new homes into a multiple listing service would help appraisers and reduce valuation disparities, while realtors and builders raised data‑access and market‑structure concerns.
Delegate Kim Taylor, sponsor of House Bill 606, told the committee the bill implements a recommendation of the Maryland Task Force on Property Appraisal and Valuation Equity: require developers, builders or brokers to report the final sale price of new homes to a multiple listing service or another public database within 30 days of closing.
"This bill is one of the Black Caucus housing priorities and seeks to increase transparency, market accuracy and equity," Delegate Kim Taylor said.
Supporters described routine appraisal shortfalls and racial equity consequences. Cleveland Horton, executive director of the Maryland Commission on Civil Rights, called the measure "a necessary step toward dismantling a long standing barrier to fair and equitable…
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