At the end of June, 28 percent of Greater Seattle area homeowners with mortgages owed more than the market value of their homes, according to a report from Seattle-based Zillow, the online real estate marketplace.

That’s a big improvement: About 31 percent were “underwater” at the end of March, and about 38 percent a year ago.

Nationally, about 24 percent were underwater at the end of June, or some 12.2 million homeowners.

Both nationally and in the Seattle area, more than half of underwater homeowners owe 120 percent or more of their home value, Zillow said.

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