• The National Association of Home Builders/First American Improving Markets Index (IMI) for June lists 80 metro areas with "measurable and sustained improvement."
• The total is down from May's 100 metros.
• The June index showed 52 metros holding on to their spots, 48 slipping from the list and 28 being added.

“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,” noted NAHB Chief Economist David Crowe.