Realtors don't think Citgo's move to Houston will hurt Tulsa's real estate market

Tulsa could see more houses up for sale now that Citgo is moving to Houston. <br><br>Tulsa's real estate market has stayed strong despite the shaky economy. But now that Citgo's moving and taking

Tuesday, April 27th 2004, 12:00 am

By: News On 6

Tulsa could see more houses up for sale now that Citgo is moving to Houston.

Tulsa's real estate market has stayed strong despite the shaky economy. But now that Citgo's moving and taking 700 jobs south, the housing market could take a hit.

News on 6 anchor Terry Hood says about 500 more houses are on the market this year than last year around this time. But Tulsa realtors say the demand has kept up with the supply. And they said that should continue, even with Citgo's decision to move 700 jobs south.

This is the peak time for home-buying and selling. Local realtors are already starting to see business pick-up. And many say they don't think Citgo's move to Houston will put a damper on the market. Citgo plans to move 700 jobs south over the next two years.

Local realtors say just because 700 jobs are leaving that doesn't mean 700 families are leaving. They suspect some people will opt to stay in the Tulsa area. President of the Greater Tulsa Association of Realtors, Frank Kell: â€œrealistically the market is good now if we get an influx of properties on the market while we're in the spring or primetime and if its spread over a couple of years the real estate market will do well."

The continued strength of the housing market will depend on how many Citgo employees leave and when.