<ARTICLE>                           5
<LEGEND>
         THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
         CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 1997
         AND FOR THE NINE MONTHS THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY
         BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                        1,000
       
                                 
<PERIOD-TYPE>                       9-MOS
<FISCAL-YEAR-END>                   DEC-31-1997
<PERIOD-START>                      JAN-01-1997
<PERIOD-END>                        SEP-30-1997
<CASH>                              56,388
<SECURITIES>                        0
<RECEIVABLES>                       41,138
<ALLOWANCES>                        0
<INVENTORY>                         1,222,233
<CURRENT-ASSETS>                    0
<PP&E>                              0
<DEPRECIATION>                      0
<TOTAL-ASSETS>                      2,015,818
<CURRENT-LIABILITIES>               0
<BONDS>                             361,834<F1>
<COMMON>                            212
<PREFERRED-MANDATORY>               0
<PREFERRED>                         0
<OTHER-SE>                          794,658
<TOTAL-LIABILITY-AND-EQUITY>        2,015,818
<SALES>                             1,647,615<F2>
<TOTAL-REVENUES>                    1,677,906
<CGS>                               1,403,575<F2>
<TOTAL-COSTS>                       1,625,107
<OTHER-EXPENSES>                    0
<LOSS-PROVISION>                    0
<INTEREST-EXPENSE>                  12,644<F3>
<INCOME-PRETAX>                     52,799
<INCOME-TAX>                        20,328
<INCOME-CONTINUING>                 32,471
<DISCONTINUED>                      3,349
<EXTRAORDINARY>                     0
<CHANGES>                           0
<NET-INCOME>                        35,820
<EPS-PRIMARY>                       1.62
<EPS-DILUTED>                       1.62
<FN>
<F1> Bonds are comprised of subordinated debentures and senior notes.
<F2> Relates to homebuilding operations.
<F3> Relates to homebuilding operations. The Company capitalizes interest
cost into homebuilding inventories and charges the interest to homebuilding
interest expense when the related inventories are sold.