CoStar Group inked a deal with a longtime tenant of its new Arlington HQ, which leased 13 of the building’s 31 floors. The tenant agreed to downsize to two floors, giving CoStar enough space for the 500 employees moving to the new HQ.
Category: costar group
Rupert Murdoch’s REA Group calls it quits on Rightmove acquisition
News Corp.-subsidiary REA Group announced on Monday it had given up on its quest to purchase Rightmove after its fourth offer of $8.3 billion was rejected by the UK portal’s board of directors.
Court denies Move’s preliminary injunction in suit against CoStar
California District Judge George H. Wu declined Move’s preliminary injunction request against CoStar on Monday, stating the portal failed to prove the risk of “imminent, irreparable harm.”
Move calls on court to stop CoStar Group’s use of ‘unauthorized’ files
Two weeks after filing a theft of trade secrets lawsuit against CoStar Group, Move now wants CoStar to hand over Move-owned files and electronic devices used by former Realtor.com News and Insights Editor James Kaminsky.
CoStar Group tallies Q1 revenue growth on success of Homes.com
The Virginia-based commercial and residential real estate behemoth released its first-quarter earnings on Tuesday, which revealed the company grew its revenue 12 percent year over year to $656 million. The company remained profitable, although its net income dropped 91 percent from $87 million in Q1 2023 to $7 million.
Homes.com gets analyst boost amid 567% annual traffic spike
Despite the initial controversy, Homes.com isn’t letting up on its traffic war with Zillow, Realtor.com and Redfin. The CoStar-owned portal reported late last week that it reached 149 million unique visitors in February, which equals a mind-boggling 567 percent growth in unique visitors compared to February 2023.
High-income renters are top prize as ownership hurdles pile up: Poll
Luring high-income renters into homeownership will only become more challenging as costs stay high, according to experts and a survey of US consumers conducted by Dig Insights and Inman.
CoStar’s Homes.com beats Redfin, Realtor.com to become No. 2 portal
In a sign of the listing portal’s growing influence, Homes.com hit more than 100 million unique visitors in September, sparking a 1,290 percent annual increase in traffic. Now the portal is second only to Zillow.
Despite Q4 decline, Realtor.com says it’s ready to take on CoStar
Realtor.com parent company Move’s Q4 and FY 2023 revenues slipped by double digits, with the company bringing in $602 million for the full year, according to an earnings call on Thursday. Despite its struggles, News Corp CEO is confident in the brand’s ability to stand toe-to-toe with its competitors.