<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
RYLAND GROUP INC. FORM 10-Q FOR THE PERIOD ENDED 6/30/95 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               JUN-30-1995
<CASH>                                          31,343
<SECURITIES>                                   113,049
<RECEIVABLES>                                  269,236
<ALLOWANCES>                                         0
<INVENTORY>                                    574,830
<CURRENT-ASSETS>                                     0
<PP&E>                                          30,867
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,625,340
<CURRENT-LIABILITIES>                                0
<BONDS>                                        760,698
<COMMON>                                        15,571
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                      1,014
<OTHER-SE>                                     310,893
<TOTAL-LIABILITY-AND-EQUITY>                 1,625,340
<SALES>                                        668,518
<TOTAL-REVENUES>                               734,425
<CGS>                                          592,036
<TOTAL-COSTS>                                  686,770
<OTHER-EXPENSES>                                 6,704
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              44,950
<INCOME-PRETAX>                                (3,999)
<INCOME-TAX>                                   (1,600)
<INCOME-CONTINUING>                            (2,399)
<DISCONTINUED>                                  22,856
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    20,457
<EPS-PRIMARY>                                     1.23
<EPS-DILUTED>                                     1.19