First-time buyers and low to moderate-income buyers have largely been sidelined by today's housing recovery. The common cry is too-tight credit. Lenders have kept the credit box restrictive because they are gun-shy from the billions of dollars in buy-backs and judicial settlements stemming from the mortgage crisis that they still face today. Now the nation's largest lender, Wells Fargo (WFC), says it is opening that box with a new low down payment loan — a loan it claims is low-risk to the bank.

More than one-third of all residential real estate sales in Orlando in 2015 were paid for in cash, according to Jim Gilkeson, director of the University of Central Florida's integrated business degree.