Zillow Won’t Sign New Contracts to Buy Homes Through Rest of 2021. The Stock Is Sliding.

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Zillow Group was falling sharply Monday after saying it won’t sign any new contracts to buy homes through the end of the year.

Zillow (ticker: Z) cited a “backlog in renovations and operational capacity constraints.”

Zillow said pausing new acquisitions will allow it to work through its backlog. It will continue purchasing homes with already-signed…

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