Although loan interest rates remain low and the Tri-City economy remains strong, home sales could end up the lowest in about a decade in Benton and Franklin counties, said Paul Roy, president of the Tri-City Association of Realtors.

In the first six months of 2011, 2,262 home sales were closed in both Benton and Franklin counties, according to a Benton Franklin Title search performed by the Tri-City Association of Realtors.

The last six months of 2011 likely will mimic the end of 2010, Roy said Monday. That would put the total home sales at 4,217, about 600 fewer homes, or 12 percent fewer sales, than in 2008 or 2009.

Because of the first-time home buyer federal tax credit, local real estate officials say comparing 2011 with 2008 and 2009 provides a more accurate picture.

The federal first-time home buyer tax credit added home sales in the Tri-Cities during the end of 2009 and beginning of 2010, Roy said. Sales had to close by July 2010 to be eligible for the tax credit.

Realtors were expecting to see fewer sales for the beginning of 2011 compared to 2010 because of that tax credit, but Roy said he had been optimistic about seeing stronger sales toward the end of 2011.

Consumer confidence is low, which means people don't purchase big-ticket items like homes, he said. Locals are hearing about the upcoming Hanford layoffs and federal debt and that creates a pessimistic environment, he said.

"Even though the Tri-Cities is in its own bubble, we are affected by what happens nationally," he said.

Fewer first-time home buyers are purchasing homes, Roy said. Normally, about 50 percent of homes are purchased by first-time buyers. This year, that's down by as much as 15 percent.

It could be 2012 before the Tri-Cities will see the real estate market recover to pre-recession levels, Roy said.

And the local market remains one of the best in the nation, he said.

The number of sales may be down, but the value of homes being sold is up. Roy said new construction is one of the strongest markets, with the average house price at about $230,000.

The one area where inventory is low is in new homes in the $200,000-or-less price range, Roy said. And those currently living in homes in that price range aren't selling, he said.

That means some potential first-time home buyers may be waiting for more inventory before purchasing, he said.

Now is the time to buy for those who can afford to do so, he said. Interest rates will increase once the national economy recovers, he added.