There might not be a RMAH, but Diablo III for consoles will feature a trading system.
During the PS4 announcement event not too long ago, Blizzard, in a rather unexpected turn of events (or maybe expected, if you saw the signs and Blizzard's past interviews), jumped on stage to show off its first console effort: a port of Diablo III. In the past, the developer had been wishy washy at best as to whether or not Diablo III would be coming to consoles, stating merely that it had been considering it. Suddenly, Diablo III's streamlined skill tree and leveling process made sense, mostly because it would be particularly well-suited to playing the game on a controller.
Recently, it was revealed that the PS4 port of the game wouldn't come with the real money auction house. That much made sense, considering that the PC version of the game had online-always DRM to prevent cheating or any other sort of nasty business that would jeopardize a gamer's precious wallet (besides the money spent on legitimate goods, of course). Now, according to Polygon, it appears that Diablo III will support both online and offline play (of up to four players), and will feature item trading via an in-game menu.
There's no price or release date just yet for the console version of Diablo III. And no, according to a Blizzard spokesperson, there are no plans to bring controller support to the PC version of the game.