As reported by the National Association of Realtors, during 2014, 33% of recent home buyers were first-time buyers. Historically the norm for first time buyers was 40%. Due to recent changes in the lending market and pent up demand, it is expected first time buyers will represent a larger share of the market in 2015. Initially, first time buyers should contact various lending agencies to see what options are available to them. They should take the time to fully understand the process. The time to start searching for that first home, is after they pre-qualified or pre-approved by a lender.