Kansas City jumped eight spots and St. Louis moved up seven spots in an annual outlook for real estate investment, but both are still in the bottom third of 51 U.S. metro areas examined.
The Emerging Trends in Real Estate report, done each year by the Urban Land Institute and PricewaterhouseCoopers, puts St. Louis in the 36th spot, just behind Kansas City and just ahead of Baltimore. Kansas City was 30th and 35th in the previous two years, and St. Louis was 32nd and 37th.
Coastal or near-coastal cities — San Francisco, Houston, San Jose and New York, plus Dallas/Fort Worth — top the report as the most attractive U.S. cities for overall real estate prospects in investment, development and housing. ULI and PwC put the report together from interviews or survey responses from more than 1,000 developers, bankers, investors and real estate experts. The report is a valuable snapshot of how cities is seen by fund managers, developers, property companies, lenders, brokers and consultants nationwide.