Welcome to our dedicated page for Costar Group news (Ticker: CSGP), a resource for investors and traders seeking the latest updates and insights on Costar Group stock.
CoStar Group, Inc. (CSGP) delivers commercial real estate intelligence through its industry-leading analytics and digital marketplaces. This page provides centralized access to official company announcements, financial disclosures, and strategic developments impacting the property sector.
Investors and professionals will find timely updates including quarterly earnings, acquisition activity, leadership changes, and product innovations. Our curated collection ensures accurate tracking of CSGP's market position and contributions to real estate technology.
Key content categories include financial performance reports, portfolio expansion updates, and technology initiatives shaping property analytics. Bookmark this page for direct access to primary sources supporting commercial real estate investment decisions and market analysis.
CoStar Group (NASDAQ: CSGP) CEO Andy Florance has been named among the top ten most powerful executives in residential real estate by Swanepoel Power 200 for the second consecutive year. The recognition stems from CoStar's expansion in residential real estate, particularly through Homes.com.
In 2024, Homes.com achieved significant growth following a major marketing campaign and the launch of an agent membership product. By Q3 2024, the platform reached 130 million average monthly unique visitors, with unaided brand awareness increasing from 4% to 33% between February and September 2024.
The company also announced its intent to acquire Matterport, Inc., aiming to enhance its property data capabilities with 3D capture technology. Founded in 1986, CoStar Group now employs over 6,400 people across 14 countries and is included in both the S&P 500 and NASDAQ 100 indexes.
Apartments.com's Q4 2024 multifamily rent report shows national year-over-year asking rent growth eased to 1.0% in December 2024, down from 1.1% in September. The national rent per unit reached $1,729, up from $1,712 at the end of 2023. Quarter-over-quarter rents declined 0.4%, marking the second consecutive quarterly decrease.
The vacancy rate remained stable at 8.0%, with 113,200 units absorbed in Q4. Supply additions of 133,300 units continued to exceed absorption, though the gap narrowed to its smallest since Q4 2021. Full-year 2024 absorption reached 556,800 units, a 70% increase from 2023.
Detroit led the top 50 markets with 3.2% annual rent growth, followed by Kansas City (3.0%) and Cleveland (2.8%). Midwest markets showed strength, while Sun Belt markets struggled, with Austin experiencing a 4.8% rent decline. Luxury units (4&5-Star) led absorption but showed the weakest rent growth at 0.2% with an 11.4% vacancy rate, while mid-priced assets achieved 1.3% rent growth with a 7.3% vacancy rate.
CoStar Group (NASDAQ: CSGP) has announced an enterprise agreement with eXp Commercial, a virtual commercial real estate brokerage subsidiary of eXp World Holdings (Nasdaq: EXPI). Through this partnership, eXp Commercial advisors will gain access to CoStar's comprehensive global real estate data and analytics platform, covering insights on properties across office, industrial, retail, multifamily, hotel, and life sciences sectors nationwide.
The collaboration aims to enhance eXp Commercial's cloud-based platform by providing their advisors with tools for property valuation, market condition analysis, and availability tracking. This integration is expected to support eXp Commercial's growth in the industry by enabling their advisors to make faster, more informed decisions through access to CoStar's solution-driven suite of services.
CoStar Group (NASDAQ: CSGP) has announced it will host an Investor Day on Thursday, December 5, 2024, from 9:00 a.m. to 2:30 p.m. ET in Richmond, Virginia, with an online webcast option. The event will feature presentations from the company's leadership team, including Founder and CEO Andy Florance, and other senior executives. Attendees will tour the company's global campus and engage with management. The event will be accessible through the company's investor relations website, with a replay available for at least 30 days afterward. In-person attendance is by invitation only.
CoStar Group (NASDAQ: CSGP) has announced its participation in the RBC Capital Markets 2024 Global TIMT Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will engage in a fireside chat on November 20, 2024, at 3:20 p.m. ET. The presentation will be available via webcast, both live and recorded, on the company's Investor Relations website for at least 30 days.
CoStar Group, founded in 1987, is a leading provider of online real estate marketplaces, information, and analytics. The company operates multiple platforms including Apartments.com, LoopNet, STR, Ten-X, Homes.com, and several European property portals. Their websites attracted over 163 million average monthly unique visitors in Q3 2024.
CoStar Group (NASDAQ: CSGP) announced its participation in the upcoming Stephens NASH24 Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will engage in a fireside chat on Tuesday, November 19, 2024, at 10:00 a.m. ET. The presentation will be accessible via webcast, with both live and recorded versions available on CoStar's Investor Relations website for at least 30 days.
CoStar Group, founded in 1987, operates as a leading provider of online real estate marketplaces, information, and analytics. The company's portfolio includes prominent platforms like Apartments.com, LoopNet, Homes.com, and various international property portals. Their websites attracted over 163 million average monthly unique visitors in Q3 2024.
CoStar Group (NASDAQ: CSGP) has announced its participation in the upcoming KBW Fintech Conference. CFO Chris Lown and Head of Investor Relations Rich Simonelli will engage in a fireside chat on November 14, 2024, at 12:40 p.m. ET. The presentation will be accessible via webcast, with both live and recorded versions available on the company's investor relations website for at least 30 days.
CoStar Group, established in 1987, operates as a leading provider of online real estate marketplaces, information, and analytics. The company manages several prominent platforms including Apartments.com, LoopNet, Homes.com, and various international property portals. Their websites attracted over 163 million average monthly unique visitors in Q3 2024.
CoStar Group (NASDAQ: CSGP) has opened nominations for its fourth annual CoStar Impact Awards, recognizing outstanding commercial real estate projects across 129 markets in the US, Canada, and UK. The awards will evaluate projects completed in 2024 across categories including Lease of the Year, Commercial Development, Multifamily Development, Redevelopment, and Sale/Acquisition. Winners will be selected by panels of industry professionals and receive trophies and promotion on CoStar's platform. Notable past winners include a sustainable logistics hub in Ottawa, a 76-story mixed-use condominium in Toronto, and a LEED-certified warehouse on Long Island. Nominations are open through January 31, 2025.
CoStar Group (NASDAQ: CSGP) has announced its fourth annual CoStar Impact Awards, recognizing outstanding commercial real estate projects across 129 markets in the US, Canada, and UK. The awards will evaluate projects completed in 2024 across categories including Lease of the Year, Commercial Development, Multifamily Development, Redevelopment, and Sale/Acquisition.
Winners will be selected by panels of industry professionals based on their project's influence, growth potential, and ability to overcome market challenges. Notable past winners include a sustainable logistics hub in Ottawa, a 76-story mixed-use development in Toronto, and a LEED-certified warehouse on Long Island. Nominations are open through January 31, 2025, and judge applications are due by November 14, 2024.
CoStar Group (NASDAQ: CSGP) has completed the acquisition of Visual Lease, a lease administration and accounting platform. Visual Lease, founded in 1996, serves over 1,500 organizations across various sectors. The merger aims to enhance CoStar's Real Estate Manager business line by combining Visual Lease's lease management expertise with CoStar's data analytics capabilities. The integration will provide comprehensive lease management and accounting solutions, strengthen relationships with service providers, and expand technology partnerships. Visual Lease's GASB experience and ESG analytics will enhance CoStar's offerings for government customers and sustainability solutions.
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