CoStar Group Names Felix Kusch President of Homes.com

CoStar brings in experienced European portal leader Felix Kusch to run Homes.com as its residential segment turns adjusted EBITDA positive.

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Experienced portal veteran who built Immoweb and Immowelt into market leaders takes over Homes.com as it pushes to become the top residential real estate site

ARLINGTON, Va.--(BUSINESS WIRE)-- CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, analytics in the property markets, today named Felix Kusch President of Homes.com.

Kusch spent the last several years running two of Europe's leading real estate portals. He was CEO of Immoweb, the number one portal in Belgium and CEO of Immowelt, the number two portal in Germany. Before that, he led M&A work at Axel Springer Digital involving a number of the continent's real estate marketplaces, and he has served on the boards of Meilleurs Agents and Lamudi. He holds a bachelor's degree from Oxford and a master's from UCL.

The portals Kusch has run share Homes.com's business model: they market and promote the real estate itself, rather than sell agent leads. That is the same "Your Listing, Your Lead" approach that has agents using Homes.com winning 50% more listings. Homes.com's leadership team will report to Kusch, and Kusch will report to CoStar Group Founder and Chief Executive Officer Andy Florance.

"Felix has run two of Europe's top real estate portals and beaten some of the toughest competitors in the industry to do it, that's exactly the experience we want leading Homes.com," said Andy Florance, Founder and Chief Executive Officer of CoStar Group. "He's proven that he can take on an established competitor and come out on top. Our model and his are the same: you win by putting the property and agent first, not by selling agent's leads to multiple agents. I am confident Felix is the right leader to get Homes.com to number one in the U.S."

Kusch is joining CoStar Group as the residential segment posted its first profitable quarter. In the second quarter of 2026, CoStar Group's residential segment turned adjusted EBITDA positive, generating $12 million, a $41 million increase from the first quarter. Homes.com revenue grew 66% year over year to $28.5 million, building off momentum from Homes.com Ai, which launched in February and is now being extended across the rest of CoStar Group's portfolio. Across its network of sites, including Homes.com and its U.K. counterpart OnTheMarket, CoStar Group drew 118 million average monthly unique visitors in the quarter.

"I've watched what CoStar Group has built with Homes.com from across the Atlantic, and it's the same fight I've spent my career in: earning trust by promoting the property, not shopping the lead," said Felix Kusch, President of Homes.com. "I've done that in Belgium and in Germany. Now I get to do it in the biggest residential real estate market in the world and I couldn't be more ready to get started with the CoStar Group team."

About CoStar Group

CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, online marketplaces, and 3D digital twin technology. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.

CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; Homes.com, the fastest-growing residential real estate marketplace; and Domain, one of Australia’s leading property marketplaces. CoStar Group’s industry-leading brands also include Matterport, a leading spatial data company whose platform turns buildings into data to make every space more valuable and accessible; STR, a global leader in hospitality data and benchmarking; Zonda, a leading provider of data, analytics, software, and marketplace solutions for the residential construction industry; Ten-X, an online platform for commercial real estate auctions and negotiated bids; and OnTheMarket, a leading residential property portal in the United Kingdom.

CoStar Group’s websites attracted 118 million average monthly unique visitors in the second quarter of 2026, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260914121926/en/

Investor Relations:
Rich Simonelli
CoStar Group Investor Relations
(973) 896-8184
getrich@costar.com

News Media:
Matthew Blocher
CoStar Group Corporate Marketing & Communications
(202) 346-6775
mblocher@costar.com

Source: CoStar Group

Key Terms

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

m&a financial

M&A, short for mergers and acquisitions, involves one company combining with or purchasing another company to grow, streamline operations, or gain competitive advantages. For investors, M&A activity can signal potential for increased value, new opportunities, or changes in market dynamics, making it an important factor to watch in the business landscape.

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