Homesnap and logos with building blocks
Illustration by Lanette Behiry/Real Estate News; Shutterstock

CoStar merges Homesnap and, cutting 100 jobs 

The company is integrating “the best of” with Homesnap and Citysnap, said Andy Florance, CoStar CEO and founder.

December 2, 2022
2 minutes

Key points:

  • CoStar acquired Homesnap in 2020, followed by in 2021.
  • describes itself as an “agent-first, property-first portal.”

CoStar Group has integrated the services of and Homesnap under one roof, an apparent shift in strategy after acquiring the two companies in 2020 and 2021. 

David Mele, President,
David Mele, President,

David Mele, who led prior to the acquisition, will oversee the combined organization. As a result of the reorganization, which will take place over the next 12 months, will gain 700 employees and eliminate 100 "duplicative roles." Although CoStar reported strong revenue during the third quarter, the layoffs are just the latest in a series of staffing reductions across the real estate industry this year.

"The company believes that the combined entity is now better positioned to efficiently achieve its goal of becoming the leading residential real estate portal," CoStar said in a statement. 

CoStar debuted its new consumer-facing platform for at the recent annual conference of the National Association of Realtors in Orlando, where real estate professionals had the chance to interact with the online services. The real estate portal, which bills itself as "agent-first, property-first," lets consumers pick an agent in their community from a national directory and filter by experience and neighborhood expertise. 

"CoStar Group is working to integrate the best of with the best of Homesnap and Citysnap," Andy Florance, CoStar CEO and founder, said in a prepared statement. "We appreciate the hard work, dedication, and contributions from the entire Homes and Homesnap teams that have helped to grow our residential business.

"While this integration will unfortunately impact some of our employees, their work has been integral to creating a product that better serves the industry and our customers," he said.

CoStar also owns, LoopNet and, among other websites.

Get the latest real estate news delivered to your inbox.