My advice is: fill up your time. Join clubs and societies, get a job, socialise regularly and often, indulge in hobbies and other things you enjoy doing. When I was in first year, I only ever felt homesick if I was sitting around not doing much. The more I got involved in university life, the less homesick I felt. If you fill up at least some of your time doing activities and other things, you'll spend less time thinking about home.
A lot of people feel like this at some point- many more than those who admit it. And a lot of people feel like this for extended periods of time. I know a couple of people who have dropped out, one to attend a university closer to home, and the other ended up not going back at all. Thing is, at this rate, it seems like neither of them are ever going to get out there and leave home properly, and that can be a very limiting thing.
So, it's up to you, but think long and hard about this. Maybe contact your university's advice services and see what they say- after all, as I said, they will have dealt with many previous students who have felt exactly the same as you.