Online real estate marketplace Zillow on Monday announced it will stop buying new homes for the rest of the year due to a backlog in renovations and operational capacity constraints. The company’s Chief Operating Officer, Jeremy Wacksman, said in a statement that Zillow will not be signing any new, additional contracts to buy homes through the end of the year but will continue to market and sell homes through Zillow Offers during this period. Through its Zillow Offers program, the company buys homes directly from sellers and completes all of the necessary upgrades or repairs without the the seller having to host open houses or showings. After buying a home, Zillow prepares it for sale. Home purchases by iBuyers now account for about 1 percent of the market, according to a report from Zillow. But due to a shortage of labor and supplies, Zillow can’t meet current demands to close, renovate, and resell the homes fast enough. …