<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from Centex
Development Company L.P.'s December 31, 1996, Form 10-Q and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000818764
<NAME> CENTEX DEVELOPMENT COMPANY, L.P.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          MAR-31-1997
<PERIOD-START>                             APR-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                             680
<SECURITIES>                                         0
<RECEIVABLES>                                    3,093
<ALLOWANCES>                                         0
<INVENTORY>                                     39,330
<CURRENT-ASSETS>                                     0
<PP&E>                                               0
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                  46,384
<CURRENT-LIABILITIES>                                0
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           500
<OTHER-SE>                                      35,478
<TOTAL-LIABILITY-AND-EQUITY>                    46,384
<SALES>                                          7,945
<TOTAL-REVENUES>                                 7,945
<CGS>                                            7,251
<TOTAL-COSTS>                                    7,251
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                    694
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                                694
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                       694
<EPS-PRIMARY>                                     0.00
<EPS-DILUTED>                                     0.00