ST. LOUIS — A new report calls St. Louis a "reinventing" market, as the region fell slightly in a ranking of overall real estate prospects.
The report, called 2024 Emerging Trends in Real Estate and put out by the Urban Land Institute and PwC, categorized St. Louis as a "reinventing market," eastern and Midwestern cities seeking to modernize their economic base.
"Many were manufacturing centers and are now moving to a more sustainable mix of education, health care and technology," the report said. "Though the economic rebound in most of these markets lags the national recovery, the federal government's stimulus programs have helped cushion the downturn."
But the report said that several of the markets – St. Louis would be included – have problems with population loss "as residents search for opportunities elsewhere."
"Overall, there were few material changes in the outlook for these markets," the report said, while noting that Milwaukee had moved up 13 places in the ranking of real estate prospects, to No. 62 of 80.
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