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The Des Moines Area Association of Realtors reported last week that first-time home buyers are fueling the local housing market, with more contracts written in August than in any month since 2006.

In addition, homes were on the market for an average of 93 days, the lowest number reported this year, said Kurt Schade, president of the association.

Low interest rates and the federal government’s $8,000 tax credit for first-time home buyers are contributing to a boost in sales, Schade said. The tax credit is available until Dec. 1.

“The number of pending sales suggests the market will stay active for at least another month before slowing down during the winter,” Schade said in a news release.

According to the report, 988 contracts were written and 775 were closed for an average sale price of $164,836. In July, the average sale price was $165,295 and in August 2008 the price was $179,191.

Inventory is dropping, too, with 5,692 homes listed last month compared with 6,191 in August 2008.