<ARTICLE>                    5
<LEGEND>
        THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
        CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 1997
        AND FOR THE YEAR THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY
        REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                 1,000
       
                          
<PERIOD-TYPE>                12-MOS
<FISCAL-YEAR-END>            DEC-31-1997
<PERIOD-START>               JAN-01-1997
<PERIOD-END>                 DEC-31-1997
<CASH>                       245,156
<SECURITIES>                 0
<RECEIVABLES>                69,768
<ALLOWANCES>                 0
<INVENTORY>                  1,141,952
<CURRENT-ASSETS>             0
<PP&E>                       0
<DEPRECIATION>               0
<TOTAL-ASSETS>               2,150,765
<CURRENT-LIABILITIES>        0
<BONDS>                      509,708<F1>
<COMMON>                     213
<PREFERRED-MANDATORY>        0
<PREFERRED>                  0
<OTHER-SE>                   812,624
<TOTAL-LIABILITY-AND-EQUITY> 2,150,765
<SALES>                      2,479,171<F2>
<TOTAL-REVENUES>             2,523,991
<CGS>                        2,110,532<F2>
<TOTAL-COSTS>                2,443,016
<OTHER-EXPENSES>             0
<LOSS-PROVISION>             0
<INTEREST-EXPENSE>           18,503<F3>
<INCOME-PRETAX>              80,975
<INCOME-TAX>                 31,175
<INCOME-CONTINUING>          49,800
<DISCONTINUED>               2,961
<EXTRAORDINARY>              0
<CHANGES>                    0
<NET-INCOME>                 52,761
<EPS-PRIMARY>                2.43
<EPS-DILUTED>                2.40
<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 closed.