Zillow slams the brakes on home buying as it struggles to manage its backlog

> The "iBuyer" model used by Zillow and other real estate companies entails purchasing homes directly from sellers, and then re-listing the properties after doing minor work. But thanks to the current shortage on labor and materials, Zillow can't close, renovate and resell the homes fast enough.

This is the only statement about the cause of the shutdown in the article. I'm skeptical that this is the only reason. I suspect it has something to do with changes in the housing market itself. Namely, higher prices are being rejected by individual buyers and Zillow is sitting on inventory it can't move because buyers won't pay the exorbitant prices that Zillow has paid.