Costar Group Inc Stock Price, News & Analysis

Apartments.com, a CoStar Group marketplace, released its Q1 2025 multifamily rent report showing stable conditions. National year-over-year asking rent growth remained at 1.1%, consistent with December 2024. The national rent per unit reached $1,754, up from $1,735 in Q1 2024.

Key metrics include:

• Quarter-over-quarter rents increased 1.0%
• Vacancy rate steady at 8.1%
• Absorption reached 137,750 units (35% increase from previous quarter)
• Supply additions of 140,950 units

Regional highlights show Kansas City leading with 3.5% rent growth, followed by Chicago and Pittsburgh at 3.3%. The Midwest showed strength, while Sun Belt markets struggled, with Austin seeing a 4.5% rent decline. Luxury units (4 & 5-Star) showed 0.5% rent growth with 11.4% vacancy, while mid-priced assets achieved 1.4% growth with 7.4% vacancy.

CoStar Group (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information, and analytics in the property markets, has scheduled its first quarter 2025 financial results announcement for Tuesday, April 29, 2025 after market close.

The company will host a conference call at 5:00 PM EDT on the same day, where management will discuss Q1 results and provide the company's outlook. Investors can access the live audio webcast in listen-only mode through the Investors section of CoStar's website, with a replay available afterward.

CoStar Group (NASDAQ: CSGP) has announced the winners of its fourth annual CoStar Impact Awards, recognizing outstanding commercial real estate projects completed in 2024 across 129 international markets. The selection process involved over 630 industry professionals who evaluated nearly 350 winners in categories including Lease of the Year, Commercial Development of the Year, Multifamily Development of the Year, Redevelopment of the Year, and Sale/Acquisition of the Year.

Notable winners include Chicago's 333 West Wacker, which won Sale/Acquisition of the Year. The 36-story Class A office building, recently sold to Beacon Capital Partners, underwent a $36 million renovation and secured a long-term lease renewal with anchor tenant Nuveen. In Calgary, the Three Sisters Mountain Village, an 800-acre master-planned development, won Commercial Development of the Year for its innovative blend of residential, commercial, and recreational uses.

Homes.com's February housing report reveals a continuing trend of rising home prices, though at a decelerating pace. The median home price rose 2.7% year-over-year to $375,000, marking a $10,000 increase from February 2023. This follows larger increases of 4.1% in January and 5.6% in December.

Price appreciation has been observed for 20 consecutive months, with the highest gains concentrated in the Northeast and Midwest regions. New York led with an 11% increase, followed by Detroit, Providence, and Chicago. Conversely, some markets experienced declines, with San Francisco dropping over 11%, along with decreases in Norfolk, Tampa, and Charlotte.

The report also notes an increase in housing inventory, suggesting a potential shift toward a buyer's market. The South showed the lowest price appreciation, with only Miami appearing among the top 10 markets for price increases, while claiming 8 of the 10 lowest price increases.

CoStar Group (NASDAQ: CSGP) has completed its acquisition of Matterport (NASDAQ: MTTR), a leader in 3D digital twin technology. The merger combines CoStar's property data and online marketplaces with Matterport's innovative 3D capture and AI-powered insights.

Matterport has digitized over 14 million spaces and 50 billion square feet across 177 countries, creating the world's largest spatial data library. The combined company aims to accelerate the adoption of digital twin technology in both commercial and residential real estate sectors.

The acquisition targets a significant market opportunity, with over four billion residential and commercial buildings globally representing a $327 trillion asset class. The companies plan to further invest in AI, computer vision, and machine learning to enhance property analytics and operational efficiency.

CoStar Group (NASDAQ: CSGP) has announced plans to hire 1,000 additional employees in 2025, primarily in Richmond, Virginia, to support the growth of Homes.com. The expansion includes approximately 500 new Homes.com sales professionals, 100 market analysts, and 100 analysts for lease management platforms.

The company's Homes.com network has become one of the two most trafficked real estate websites in the U.S., attracting 110 million unique monthly visitors in Q4 2024. CoStar Group will complete its new one million square foot Richmond global operations headquarters in spring 2026, designed to accommodate 3,500 employees.

The company expects to welcome nearly 500 additional employees through its planned Matterport acquisition, furthering its commitment to AI and digital twin technologies. While implementing AI-driven efficiencies, some roles will be eliminated in 2025, though this strategic growth is not expected to impact the company's 2025 financial guidance.

Homes.com, a CoStar Group company, has released a new report analyzing the Washington-area housing market following recent federal workforce changes. The study reveals that despite approximately 75,000 federal employees accepting buyouts and additional layoffs, neither D.C. nor surrounding areas in Maryland and Virginia have experienced significant changes in active listings, sold properties, or median sales prices.

The report indicates a slight increase in listings and asking prices, though this trend preceded the administrative changes. A notable development in the DMV housing market is the surge in ultraluxury listings, with 13 houses priced at $7 million or higher listed in the past month. The Homes.com Network reached 110 million average monthly unique visitors in Q4 2024, with brand awareness increasing from 4% to 33% following CoStar Group's major marketing campaign in February 2024.

CoStar Group (NASDAQ: CSGP) reported strong financial results for 2024, with revenue reaching $2.74 billion, up 11% from 2023. The company's Q4 2024 revenue was $709 million, marking its 55th consecutive quarter of double-digit growth.

Key highlights include Apartments.com achieving $1.07 billion in revenue (+17% YoY) and CoStar's flagship offering generating $1.02 billion (+10% YoY). The Homes.com Network has become the second-largest residential real estate marketplace in the U.S., reaching 110 million average monthly unique visitors in Q4.

The Board approved a $500 million stock repurchase program with no time limit. For 2025, the company projects revenue between $2.985-$3.015 billion, representing approximately 10% growth, with adjusted EBITDA expected between $375-$405 million.

CoStar Group (NASDAQ: CSGP) has acquired agricultural data company Ag-Analytics, enhancing its Land.com platform with agricultural land sector capabilities. The acquisition integrates Ag-Analytics' AcreValue platform, which provides valuations on 2.8 million land parcels and serves 1.5 million registered users across 48 contiguous states.

The integration will enhance Land.com's offerings with comprehensive data including geographical information, soil composition, elevations, and historical data. Ag-Analytics maintains a strategic alliance with Farmer Mac in the agricultural credit market, where farm sector real estate debt totals $355 billion. The acquisition targets the farm sector real estate market, representing a $3.4 trillion asset class, aiming to maximize revenue and provide increased value for clients.