Sales of existing homes up 4.9 percent in May

photo Home sales tile

LOCAL HOME SALES DIPChattanooga Realtors sold 9.7 percent fewer homes last month than they did a year ago as the local real estate market continued to show mixed signals as the economy recovers.The Greater Chattanooga Association of Realtors said Monday that 635 residential homes sold in the Chattanooga area during May. Sales volumes were down last month even though there was a 6.4 percent increase in new listings.The median sales price of Chattanooga homes sold in May was $154,450, up 6.7 percent from a year ago."We've had a mixed bag of ecoomic news lately," said Vicki Trapp, president of the Greater Chattanooga Association of Realtors. "We've now had more than four straight years of monthly private sector job growth.