Statistics don't lie (unless they are of course manipulated like the unemployment numbers we are fed monthly), and according to NAR's latest numbers the median home price is at a 10 year low.
This is an overall stat and it will vary from city to city. For instance prices are actually going UP in my back yard of Coral Gables, FL.
Most of the same factors I mentioned in a previous post still apply.
However if you are employed, have your debt to income under control, and a decent 620+ credit score, most likely you CAN get a loan.