<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from The
Ryland Group, Inc. Form 10-Q for the period ended 9/30/96 and is qualified
in its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                          31,760
<SECURITIES>                                   139,770
<RECEIVABLES>                                  163,761
<ALLOWANCES>                                         0
<INVENTORY>                                    612,503
<CURRENT-ASSETS>                                     0
<PP&E>                                          33,921
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,415,719
<CURRENT-LIABILITIES>                                0
<BONDS>                                        532,822
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        887
<COMMON>                                        15,819
<OTHER-SE>                                     291,807
<TOTAL-LIABILITY-AND-EQUITY>                 1,415,719
<SALES>                                      1,062,760
<TOTAL-REVENUES>                             1,144,145
<CGS>                                          918,338
<TOTAL-COSTS>                                1,082,048
<OTHER-EXPENSES>                                 8,796
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              35,229
<INCOME-PRETAX>                                 18,072
<INCOME-TAX>                                     7,229
<INCOME-CONTINUING>                             10,843
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    10,843
<EPS-PRIMARY>                                     0.59
<EPS-DILUTED>                                     0.59