Andy Florance

This past August, CoStar closed on its acquisition of Zonda. The Arlington, Va.-based CoStar paid $800 million — cash — for the data platform focused on new home construction and homebuilders. 

It was a deal illustrative of CoStar’s scope. The firm that Andy Florance founded in 1987 now reaches into just about every nook and nanobyte of commercial real estate. Search for, or research, real estate in the developed world, and you probably do it via CoStar. 

Its stable of companies includes Apartments.com, Homes.com, digital twinning giant Matterport (which by itself covers 38 billion square feet across 177 countries), commercial property marketplace Loopnet, hospitality data platform STR, the rural-focused Land.com and real estate auction site Ten-X.

And CoStar spent some of the last year expanding those companies. For instance, it added generative AI components to both Apartments.com and Homes.com, reducing search times and boosting general usage on both sites. On the former, for instance, sessions on the AI component averaged 20 minutes, 2.8 times longer than non-AI users on Apartments.com, CoStar said.

In fact, CoStar’s usage numbers in recent months could be the envy of the real estate tech industry. Its search and data sites attracted an average of 118 million unique visitors a month in the second quarter of 2026, up from 111 million a year earlier. CoStar’s editorial and research operations complement and supplement these figures. 

And such numbers, as you would expect, translate into hearty financials. CoStar in the second quarter posted a 73 percent annual adjusted net income gain to $128 million and an 18 percent increase in revenue to $925 million compared with second quarter 2025. 

“We held operating cost growth to just 2 percent,” Florence said in a second-quarter 2026 earnings report, “and we delivered our 61st consecutive quarter of double-digit revenue growth.”