Here’s Why Zillow Won’t be Buying Any More Homes to Renovate and Resell This Year

NPR, Oct. 19, 2021–Joe Hernandez
The real estate website Zillow announced it would stop buying and renovating homes through the end of the year as it works through a backlog of properties and it deals with worker and supply shortages.

“We’re operating within a labor- and supply-constrained economy inside a competitive real estate market, especially in the construction, renovation and closing spaces,” Jeremy Wacksman, Zillow’s Chief Operating Officer, said.