Owasso housing market tied somewhat to American Airlines' future

Wednesday, April 23rd 2003, 12:00 am
By: News On 6

Owasso and other communities have a lot at stake when it comes to American Airlines. Low interest rates have made the housing market in our area strong.

FAA employee John Prator wonders if American's problems will change that. He's already put his Owasso home up for sale. And he's concerned the uncertainty of American's future will prompt others to sell their homes this summer and flood the housing market.

Local real estate agents say there is concern, but so far there's been no impact from American's financial and labor problems. Gary Griffith, Tulsa Association of Realtors: "I'm certainly not one to say there is going to be doom and gloom, we've heard too many of those forecasts. If we came through the oil bust, reestablished ourselves. I don't think this will be any worse than that and I sincerely hope that it is not."

The News on 6 checked, and right now homes under $150,000 are selling very well in our area. Property appreciated in the Tulsa area at a 6% rate this year over last year.