<ARTICLE>                           5
<LEGEND>
         THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
         CONDENSED CONSOLIDATED FINANCIAL STATEMENTS AS OF JUNE 30, 1996 AND
         FOR THE SIX MONTHS THEN ENDED AND IS QUALIFIED IN ITS ENTIRETY BY
         REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>                        1,000
       
                                 
<PERIOD-TYPE>                       6-MOS
<FISCAL-YEAR-END>                   DEC-31-1996
<PERIOD-START>                      JAN-01-1996
<PERIOD-END>                        JUN-30-1996
<CASH>                              173,139
<SECURITIES>                        0
<RECEIVABLES>                       88,783
<ALLOWANCES>                        0
<INVENTORY>                         972,947
<CURRENT-ASSETS>                    0
<PP&E>                              0
<DEPRECIATION>                      0
<TOTAL-ASSETS>                      1,851,100
<CURRENT-LIABILITIES>               0
<BONDS>                             362,749<F1>
<COMMON>                            248
<PREFERRED-MANDATORY>               0
<PREFERRED>                         0
<OTHER-SE>                          715,723
<TOTAL-LIABILITY-AND-EQUITY>        1,851,100
<SALES>                             984,503<F2>
<TOTAL-REVENUES>                    1,020,875
<CGS>                               841,589<F2>
<TOTAL-COSTS>                       984,710
<OTHER-EXPENSES>                    0
<LOSS-PROVISION>                    0
<INTEREST-EXPENSE>                  7,323<F3>
<INCOME-PRETAX>                     36,165
<INCOME-TAX>                        14,656
<INCOME-CONTINUING>                 21,509
<DISCONTINUED>                      3,765
<EXTRAORDINARY>                     0
<CHANGES>                           0
<NET-INCOME>                        25,274
<EPS-PRIMARY>                       0.95
<EPS-DILUTED>                       0.95
<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.