In another tense back and forth between CoStar Group and an activist investor, hedge fund The D.E. Shaw Group criticized what it called the company’s latest “attempt to evade accountability for longstanding and ongoing underperformance of Homes.com.” The new dispute comes about a month after D.E. Stevens first demanded that CoStar abandon its residential business.…
As inflation and economic challenges continue to put pressure on the housing construction industry, rising construction costs may point to continued affordability challenges for homebuyers, according to the latest data. The Producer Price Index (PPI) from the Bureau of Labor Statistics released last week found that construction costs for single-family homes were up by 3.2%…
CoStar Group on Feb. 17 announced the launch of Homes AI, which the portal calls a transformative experience powered by Microsoft Azure OpenAI, fully integrated into Homes.com, and accessible to all consumers. For the first time on a major real estate portal, according to the company, consumers can engage in natural, real-time, two-way conversations, by…
Following on the heels of hedge fund investor Third Point’s recent demand that CoStar Group exit its Homes.com-led residential business entirely, a second hedge fund investor, the New York City-based D.E. Shaw Group, has voiced the same opinion. Even with CoStar firing back at Third Point, saying its demands reflect “their complete misunderstanding of our…
As the corporate infighting continues between CoStar Group and billionaire investor Daniel Loeb’s hedge fund Third Point, with Third Point on Jan. 27 announcing it would seek to replace a majority of CoStar’s eight-person board, CoStar responded with a lengthy statement released on Jan. 28 highlighting new planned initiatives. “The CoStar Group Board of Directors…
Billionaire investor Daniel Loeb’s hedge fund Third Point has launched a proxy fight against CoStar Group, nominating multiple directors to the company’s board and demanding the real estate giant exit its residential business entirely. In a letter released this morning, Third Point announced it would seek to replace a majority of CoStar’s eight-person board, marking…
CoStar, just under two years after launching what it described as the largest marketing campaign in real estate history to promote Homes.com, said yesterday that 2026 will see “meaningful moderation” in its investment in the portal, after some early stumbles sparked pushback from shareholders. In a press release, CoStar Founder and CEO Andy Florance promised…
In a switch-up from the company’s previous stance, CoStar has filed an agreement to move its copyright infringement lawsuit against Zillow to Seattle, Washington. In a notice of non-opposition filed Dec. 2, CoStar stated it agrees to transfer the case to the Western District of Washington “in light of new information disclosed by Zillow in…
Editor’s note: The COURT REPORT is RISMedia’s weekly look at current and upcoming lawsuits, investigations and other legal developments around real estate. CRMLS-affiliated vendor REcore and CoStar lawsuit quickly resolved CRMLS, the second-largest MLS in the country sued CoStar on Oct. 21 over a dispute related to an alleged breach of contract with its licensing…
CoStar is providing a more forceful—and specific—pushback against accusations by Zillow that the company’s 3D home tour subsidiary, Matterport, blocked users from uploading tours on third-party websites, as earlier this week, one of the nation’s largest MLSs sought to remove CoStar-created media, before quickly reversing course. After Zillow on Monday removed Matterport tours from its…
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