According to the Illinois Association of Realtors’ Wednesday report home sales in the Chicago metropolitan area climbed in April, as compared to the March figures, marking the third month-on-month increase in a row. However, sales as well as prices still remained notably below the year-before figures.

During April, the sales in Chicago area increased 11.4 percent from March figures to reach 4,745; but were 22.1 percent lower than the April 2008 sales. The $192,500 median sale price in April was 0.8 percent less than that in March and 21.1 percent less than the year-before figures.

According to Geoffrey Hewings, Director of the University of Illinois' Regional Economics Applications Laboratory, in spite of the latest month-on-month gains, a sustained housing bounce back is not likely to happen unless the state’s unemployment rate – which stood at 9.4 percent in April - undergoes a change for the better.

Going by the statewide figures, home sales increased 18 percent in April, with 13,111 homes sold this year, as against 11,133 homes sold in April last year. The median home sales in Florida dropped 31 percent - to $138,500 from the last April figures of $199,500.

Specifically speaking for condos, the statewide existing condo median sales price was $106,600 in April, indicating a 40 percent plunge from the $178,900 figures posted in the same month earlier year.