(WSBT) The housing market is struggling and a jump in local property taxes isn't helping.

Housing sales nationwide are down from last year. According to the National Association of Realtors, existing home sales in the Midwest declined 8.1 percent from June 2006.

Experts say it’s a buyer’s market, but local realtors say both buyers and sellers are being impacted by higher property taxes.

If you've looked at your property tax bill and thought, ‘How will I pay this?’ you're not alone.

“I actually have two friends that if their payment goes up what they're thinking it's going to go up, what they've heard — almost $200 per month — they're going to have to sell their home. I’m sure that's the same with a lot of people,” said St. Joseph County homeowner Sue Fisher.

Realtors say the elderly and those on a fixed income are most at risk.

However, selling your house because of high property taxes might not be so easy — higher taxes are the reason why someone else may not want to buy it.

In fact, higher taxes just killed a deal for RE/MAX Agent Sondra Resen in Goshen.

“When he first put the purchase agreement on the house the taxes were the old taxes and by the time we processed his loan, the new taxes were out,” explained Resen. “They went from $1,000 to $2,300, and we found the buyer couldn't qualify for the higher payments."

Realtors say some people hoping to sell are now lowering the prices on their houses.

RE/MAX Agent Kendrae Hilty says potential buyers are also paying closer attention to what their taxes would be.

‘I've even had people ask for the assessment — what the house is assessed for. I think they're realizing that's all important stuff to figure,” said Hilty.

Realtors also say investment properties are struggling due to higher property taxes.

Owners who buy to rent out don't have the exemptions homeowners do, and realtors say some are struggling to pay those bills and, in turn, keep their properties.