Improving Housing Markets List Shrinks to 80

Washington, DC, June 14, 2012 -- The June list of U.S. housing markets showing sustained improvement now includes 80 metropolitan areas, according to the National Association of Home Builders/First American Improving Markets Index .

Though down from the 100 markets shown as improving in May, the list includes 28 new entrants and at least one representative from 31 different states (including the District of Columbia).

"The shifting of some markets off the IMI in June underscores the fragile nature of the housing recovery as well as the fact that many locations that previously made the list had recorded only marginal house price gains, which were easily wiped out by small downward changes," said NAHB chief economist David Crowe.

"However, the fact that multiple new areas are showing up on the list each month is encouraging, and highlights the degree to which local economic and job market conditions are what drive individual housing markets."