September sales of previously owned homes in the eight-county Philadelphia area were basically flat from the same month in 2008, data collected by Prudential Fox & Roach's HomExpert Market Report show.

Sales rose 0.9 percent last month over September 2008. Median prices fell 4.1 percent in that time, to $207,275 from $216,120, reflecting the high percentage of first-time buyers looking to close deals before the $8,000 tax credit expires Nov. 30.

"The majority of my buyers are first-time buyers seeking the tax credit," said Murray Rubin, a Prudential Fox & Roach agent in Marlton.

"Market activity is gaining momentum," he added. "Buyers are aware of opportunities, prices reasonable, inventory remains adequate, and interest rates are appealing."

Through September, fixed rates for 30-year mortgages ranged from 4.82 percent to slightly above 5 percent. On Thursday, Freddie Mac reported average 30-year fixed rates at 5 percent.

The region's September sales numbers look anemic when compared to the country's as a whole. Nationwide, sales rose 9.2 percent over last year, according to the National Association of Realtors.

Median prices nationally fell 8.1 percent year over year, not only reflecting the first-timers in the market but the huge volume of foreclosed houses in Sun Belt and Rust Belt states, where values have plummeted between 30 percent and 50 percent from the 2006 peak.

Foreclosure sales comprise a relatively small percentage of the Philadelphia region's market. Econsult Corp. vice president Kevin Gillen estimates that since the real estate boom ended prices here have fallen only 12 percent.

The national report "raises almost as many questions as it answers," said Joel L. Naroff of Naroff Economic Advisers in Bucks County. "Clearly, the housing market is in much better shape than six months ago, when demand hit rock bottom. But aid from government incentives is disappearing, and how much demand will fall is somewhat unclear."

Unless the tax credit is both extended and expanded, economist Patrick Newport of IHS Global Insight said, sales will take a hit and "house prices, which have stabilized recently, will start falling again."

Contact real estate writer Alan J. Heavens at 215-854-2472 or aheavens@phillynews.com.