Millennials’ return to real estate market forecasts good year ahead

For those buying and selling real estate, 2016 was a “fantastic” year, and projections for 2017 indicate it should be another good year. Robert P. Molta, broker and owner of Real Living Realty Professionals with six offices throughout the Pioneer Valley, says sales in 2016 were “fantastic,” up 10 to 12 percent from 2015. This was true for all types of properties including homes, condominiums, land and commercial properties. Last year’s record-low interest rates helped buyers, and limited supplies of housing helped sellers and enabled properties to turn over quickly. The rate on a 30-year mortgage recently passed the 4.27 percent mark, up more than half a percent from early October, according to the Mortgage Bankers Association.

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