Will CoStar beat out Zillow with more internet visitors?
Boston Real Estate for Sale in 2023
Loading...
Will CoStar beat out Zillow with more internet visitors?
People looking for homes on CoStar Group’s Homes.com and Apartments.com have catapulted the company to the second-most visited residential platform — bringing it in direct competition with its largest rival Zillow.
Traffic to the company’s residential platform hit 84 million average monthly unique visitors in the second quarter, Costar said as it announced quarterly earnings Tuesday.
That was enough to surpass Realtor.com as the second-most trafficked residential platform after moving past Redfin at the beginning of the year.
CoStar Group CEO Andy Florance said on the company’s earnings call that consumers were choosing Homes.com because they can easily and clearly contact the listing agents.
For the second quarter, CoStar reported net income of $100.5 million, up from $83 million the same time last year.
The company hit $82 million in new bookings in the quarter for the second-highest sales quarter in the company’s history. Florance said high vacancy figures from new rental construction were helping to grow Apartments.com
