By Scott Van Voorhis

Boston.com Correspondent | 12.19.14 | 4:25 PM

Looking to buy a home or condo? Well then 2015 could be the year to go for it.

Interest rates are likely to remain low, while home and condo prices are at least slowing down from their furious, double-digit growth over the past few years, real estate brokers say.

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And with the economy rebounding, this could be a breakout year for millennials as they start to flex their buying muscles.

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Even renters might get a break, as a deluge of new luxury apartments hitting the market in Boston might put downward pressure on rents.

Heres what to look for in Greater Boston real estate next year:

Prices cool: Yes, home and condo prices are too high Greater Boston ranks consistently near the top in surveys of the most expensive housing markets in the country. But the rate of growth appears to be leveling off, with home prices across the state having risen by a modest 2.3 percent so far in 2014. At this time in 2013, prices had risen 12 percent. Second, there are signs as 2014 draws to a close that the number of homes hitting the market is starting to rise, with sellers finally getting off the fence. More stable prices, coupled with an increase in the number of homes on the market, could give buyers a breather, especially in the suburbs. People are starting to get pre-approved (for a mortgage) and getting their ducks in a row. Next year will be busier, said Rich Hornblower, of Coldwell Bankers Newbury Street office.

Hot markets get hotter: Disclaimer: All of the above bears little if any relationship to Cambridge and Davis Square in nearby Somerville. Prices in these red hot markets, at the center of the regions biotech and high-tech booms, show no signs of cooling off, with demand far exceeding the supply of homes and condos on the market, brokers say.

Millennials start buying: OK, all those crazy student loans wont be going away anytime soon and the Great Recession was more like a Depression for young college graduates. That said, the economy is starting to gain real momentum and millennials are starting to gain traction in the workforce and move out of mom and dads basement. Sam Schneiderman, principal broker of the Greater Boston Home Team, is seeing more buyers of the millienial generation check out listings in Davis and Porter squares, in Arlington, and even up into Medford. These are folks that are emerging from the basement. Now they are at the point where they are employed and they have some cash saved and its time to look around and seen what they can find, he said.

Luxury apartment glut: If you are in the market for some deluxe digs, you may just hit the jackpot in 2015. Hundreds of trendy and expensive new apartments are poised to open in the new Ink Block project in the South End. Its just the latest in thousands of new luxury apartments that have opened in downtown Boston over the past few years, with several thousand more on the way. There is already talk of a surplus of luxury apartments, as developers and landlords resort to gimmicks like free rent for the first few months and gift cards to fill empty pads. Look for ever more creative concessions, and maybe even some outright rent cuts, as the number of luxury rentals steadily grows. Developers may also start to convert some of their empty units to condos, helping ease a shortage there, notes David Crowley, director of sales and marketing at Raveis Marketing Group.

Eastie rising: There has been talk for a couple decades now of the raw potential of Easties waterfront, which has some of the best harbor views around. Now this hitherto neglected stretch of Boston waterfront is coming to life as one of the citys top new destinations. The new Portside at East Pier is now in the process of leasing out its 176 apartments, while Gerding Edlen, a Portland, Ore.-based firm recently kicked off construction on the $132 million New Street project. That project will add another 259 apartments to the neighborhoods waterfront. Hornblower notes he recently sold a 1,000 square foot penthouse at 156 Porter Street for $447,500 with sweeping city views a bargain, and then some, compared to what the condo would have fetched in downtown Boston. That kind of quality, you cant get downtown, Hornblower said.

More middle-income housing: Mayor Marty Walshs drive to build more housing affordable for middle class families will kick into high gear in 2015. The mayor has already unveiled plans to encourage more affordable housing along the Orange Line in Jamaica Plain and the Red Line in South Boston near Andrew Square. More housing development zones in other neighborhoods are set to be announced in the new year. Worried about getting caught in a luxury housing bust, some developers are warming to the idea. Stay tuned.

Interest rates stay low: This time last year, economists and bankers were predicting that the low-interest-rate gravy train would come to a screeching halt in 2014. Well the year is almost done and interest rates are headed down, not up, hovering around record lows. Meanwhile, market observers dont see the Fed boosting interest rates until at least mid-year. Message to buyers: Coast is clear right through the spring market. Interest rates will most likely begin to increase again mid-year and will probably end the year between 1/2 to 1 percent higher, Schneiderman predicts.

Scott Van Voorhis can be reached at sbvanvoorhis@hotmail.com .