Financing becomes more difficult for first-time buyers 

Although dropping home prices have made it easier for some to buy their first homes, financing the purchase has become more difficult as lenders require larger down payments and higher credit scores. The average loan now requires 5 percent down, a sum many first-time home buyers have difficulty with. The National Association of Realtors found that between July 2006 and June 2007, 45 percent of first-time home buyers chose 100 percent financing when purchasing their homes. Some are predicting that minimum down payments could soon go up to 20 percent.