Ryland Group Inc. said Friday that it will exit the Cincinnati market in 2009 due to the sluggish housing market.

Before ceasing operations, the Calabasas-based homebuilder plans to complete 100 lots either scheduled to start or under construction in the greater Cincinnati, Dayton and Northern Kentucky areas.

Ryland built 183 homes in the Cincinnati area in 2007, according to the company.

Shares in Ryland, which lost about two thirds of their value last year, are up 52 percent since the start of the year and 4 percent this week.

Investors were buoyed by a Wednesday report from the U.S. Commerce Department that housing starts in March were at their lowest level in 17 years. The data fueled hopes that less construction will help the market work through a growing glut of unsold homes.

Shares in Ryland closed up 13 cents to $33.13 in trading Friday.