Final answer:
The Fair Housing Act of 1968 prohibits racial discrimination in the sale or rental of housing without exception.
Step-by-step explanation:
The law that prohibits racial discrimination in the sales or lease of all real property is the Fair Housing Act of 1968, also known as part of the Civil Rights Act of 1968. This Act specifically banned discrimination in the sale or rental of housing based on race, color, religion, sex, or national origin. It addressed issues that arose after the 1948 Supreme Court decision which found restrictive covenants unconstitutional, and practices that emerged subsequently, such as realtors refusing to sell to people from ethnic minorities in white neighborhoods and banks engaging in mortgage discrimination. Moreover, the Act also reaffirmed the rights established by the Civil Rights Act of 1964 which prohibited discrimination in employment practices and public accommodations.