CoStar Group Announces Agreement with Oxford Economics
WASHINGTON, FEBRUARY 14, 2019 – CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced an expanded agreement with Oxford Economics, the leading global economic advisory firm and provider of economic data, analysis, and forecasts. Oxford Economics will provide CoStar with the economic data and forecasts used in CoStar’s product offerings and commercial real estate forecasting models across the United States, Europe, and Canada.
“We have worked with Oxford Economics for nearly a decade in Europe and are pleased that they are now forecasting all US metros, allowing CoStar to have a consistent economic data provider and view across both North America and Europe,” said John Affleck, CoStar’s Vice President of Market Analytics. “Their Global Macro Model is the industry standard for integrated global economic forecasting, and will allow CoStar to produce custom economic scenarios. And, their county- and LAD-level data enables us to include economic effects at a sub-market level in our forecasting models.”
Headquartered in Oxford, UK with offices around the world, Oxford Economics employs more than 250 economists and analysts serving leading multinational companies, financial groups, real estate organizations, governments, central banks and academic institutions worldwide. Long regarded as the industry leader in city, regional and other sub-national economic forecasting globally, Oxford Economics recently expanded its US forecasting coverage to include more than 3,500 sub-national economies, spanning all 50 states, 382 metros and 3,142 counties.
CoStar’s forecasting model, as seen in CoStar’s market and submarket reports, will be fueled with Oxford Economics metro-level data, a range of economic scenarios beyond the Base Case, including an Upside, Slower Growth, a Recession case, and an Interest Rate Shock scenario.
“We are delighted to be extending our relationship with CoStar and look forward to supporting the initiative from our substantial network of US offices, based out of our US headquarters in New York,” said Adrian Cooper, CEO and Chief Economist of Oxford Economics. “Our development of total US Metro and County forecasting coverage has enabled this joint opportunity to provide our US national and regional forecasts to CoStar.”
Visit costargroup.com for more information.
Media Contact:
Megan Sweat/Christine Dusome
850-668-2222
costarpr@zimmerman.com
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About CoStar Group, Inc.
CoStar Group, Inc. (NASDAQ: CSGP) is the leading provider of commercial real estate information, analytics and online marketplaces. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. LoopNet is the most heavily trafficked commercial real estate marketplace online with approximately 5 million monthly unique visitors per month. Realla is the UK’s most comprehensive commercial property digital marketplace. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. CoStar Group’s websites attracted an average of approximately 45 million unique monthly visitors in aggregate in the third quarter of 2018. Headquartered in Washington, DC, CoStar maintains offices throughout the U.S. and in Europe and Canada with a staff of over 3,600 worldwide, including the industry’s largest professional research organization. For more information, visit www.costargroup.com.
