<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from the
Ryland Group Inc. Forn 10-Q for the period ended 3/31/98 and is qualified
in its entirety by reference to such financial statements
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               MAR-31-1998
<CASH>                                          37,264
<SECURITIES>                                   150,752
<RECEIVABLES>                                  182,004
<ALLOWANCES>                                         0
<INVENTORY>                                    567,995
<CURRENT-ASSETS>                                     0
<PP&E>                                          26,252
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                               1,253,498
<CURRENT-LIABILITIES>                                0
<BONDS>                                        445,853
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                        490
<COMMON>                                        14,896
<OTHER-SE>                                     302,407
<TOTAL-LIABILITY-AND-EQUITY>                 1,253,498
<SALES>                                        311,539
<TOTAL-REVENUES>                               336,305
<CGS>                                          269,182
<TOTAL-COSTS>                                  312,899
<OTHER-EXPENSES>                                 3,350
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              12,239
<INCOME-PRETAX>                                  7,817
<INCOME-TAX>                                     3,127
<INCOME-CONTINUING>                              4,690
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,690
<EPS-PRIMARY>                                     0.30
<EPS-DILUTED>                                     0.29