Item  1.    Financial  Statements

<TABLE>

<CAPTION>

                            CROSSMANN COMMUNITIES, INC.
                                  AND SUBSIDIARIES

                            CONSOLIDATED BALANCE SHEETS




<S>                                         <C>                   <C>

                                            September 30, 1997    December 31, 1996
                                            --------------------  ------------------
                                                     (unaudited)
                                            --------------------                    
ASSETS
  Cash and cash equivalents                 $            148,985  $          100,000
  Retainages                                             624,485           1,151,700
  Real estate inventories                            157,024,965         113,202,107
  Furniture and equipment, net                         3,202,929           2,919,333
  Investments in joint ventures                        5,135,146           3,404,742
  Goodwill, net                                        3,468,824           2,737,328
  Other assets                                         6,421,148           4,821,259
                                            --------------------  ------------------
Total assets                                $        176,026,482  $      128,336,469
                                            ====================  ==================


Liabilities and shareholders' equity
  Accounts payable                          $         19,689,178  $       14,110,634
  Accrued expenses and other liabilities               7,659,849           5,250,256
  Notes payable                                       46,502,395          49,326,220
                                            --------------------  ------------------
Total liabilities                                     73,851,422          68,687,110

Commitments and contingencies

Shareholders' equity:
  Common shares                                       55,076,994          24,400,903
  Retained earnings                                   47,098,066          35,248,456
                                            --------------------  ------------------
Total shareholders' equity                           102,175,060          59,649,359
                                            --------------------  ------------------
Total liabilities and shareholders' equity  $        176,026,482  $      128,336,469
                                            ====================  ==================
<FN>

See  accompanying  notes.
</TABLE>










<TABLE>

<CAPTION>

                                 CROSSMANN COMMUNITIES, INC.
                                       AND SUBSIDIARIES

                        CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)

                                                        THREE  MONTHS ENDED SEPTEMBER 30,     
NINE  MONTHS  ENDED  SEPTEMBER  30,


<S>                                   <C>           <C>           <C>            <C>

                                             1997          1996           1997           1996 
                                      ------------  ------------  -------------  -------------

Sales of residential real estate      $89,969,648   $66,955,250   $206,329,777   $149,764,371 
Cost of residential real estate sold   71,387,248    52,648,888    164,025,835    118,494,310 
                                      ------------  ------------  -------------  -------------
Gross profit                           18,582,400    14,306,362     42,303,942     31,270,061 

Selling, general and
 administrative                         8,663,860     6,130,357     22,605,602     16,477,807 
                                      ------------  ------------  -------------  -------------
Income from operations                  9,918,540     8,176,005     19,698,340     14,792,254 

Other income, net                         319,816       162,686        870,116        587,123 
Interest expense                         (144,688)     (286,869)      (733,938)      (667,140)
                                      ------------  ------------  -------------  -------------
                                          175,128      (124,183)       136,178        (80,017)
                                      ------------  ------------  -------------  -------------

Income before income taxes             10,093,668     8,051,822     19,834,518     14,712,237 
Income taxes                            4,037,468     3,196,125      7,984,938      5,862,975 
                                      ------------  ------------  -------------  -------------
Net income                            $ 6,056,200   $ 4,855,697   $ 11,849,580   $  8,849,262 
                                      ============  ============  =============  =============

Weighted average number of
 common shares outstanding              9,537,205     9,158,562      9,310,878      9,147,006 
                                      ============  ============  =============  =============

Net income per common share           $       .64   $       .53   $       1.27   $        .97 
------------------------------------  ============  ============  =============  =============
<FN>

See  accompanying  notes.
</TABLE>




<TABLE>

<CAPTION>

                                   CROSSMANN COMMUNITIES, INC.
                                         AND SUBSIDIARIES
                        CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)


<S>                                                   <C>                    <C>

                                                      Nine Months            Nine Months
                                                      Ended September 30,    Ended September 30,
                                                      ---------------------  ---------------------
                                                                      1997                   1996 
                                                      ---------------------  ---------------------
Operating activities:
Net Income                                            $         11,849,580   $          8,849,262 
Adjustments to reconcile net income to net cash
  flows from operating activities:
    Depreciation                                                   459,214                381,472 
    Amortization                                                  (326,017)               125,528 
    Gain on sale of equipment                                       (2,651)                (4,385)
    Cash provided (used) by changes in:
      Retainages                                                   531,715               (364,909)
      Amounts due from related parties                             (13,363)              (517,509)
      Real estate inventories                                  (35,395,493)           (43,991,267)
      Other assets                                              (1,503,699)            (1,450,271)
      Accounts payable                                           4,318,271              6,206,228 
      Amounts due to related parties                                   -0-                339,749 
      Accrued expenses and other liabilities                     1,972,721              3,448,106 
                                                      ---------------------  ---------------------
Net cash flows from operating activities                       (18,109,722)           (26,977,996)

Investing activities:
Purchases of furniture and equipment                              (691,423)            (1,940,500)
Proceeds from disposition of furniture and equipment                 2,651                  7,600 
Investments in joint ventures                                   (1,730,404)              (413,822)
Business Acquisitions                                              623,825                    -0- 

Net cash used by investing activities                           (1,795,351)            (2,346,722)

Financing activities:
Proceeds from bank borrowing                                   108,835,644             74,896,000 
Principal payments on bank borrowing                          (118,235,000)           (50,204,000)
Payments on notes and long-term debt                              (456,011)              (472,321)
Proceeds from sale of common shares                             29,809,425                 31,000 
                                                      ---------------------  ---------------------
Net cash provided by financing activities                       19,954,058             24,250,679 
                                                      ---------------------  ---------------------

Net decrease in cash and cash equivalents                           48,985             (5,074,039)
Cash and cash equivalents at beginning of period                   100,000              5,232,950 
                                                      ---------------------  ---------------------
Cash and cash equivalents at end of period            $            148,985   $            158,911 
----------------------------------------------------  =====================  =====================
<FN>

See  accompanying  notes.
</TABLE>




                                  SIGNATURES


     Pursuant  to  the  requirements of Sections 13 or 15(d) of the Securities
and  Exchange  Act  of  1934, the registrant has duly caused this report to be
signed  on  its  behalf  by  the  undersigned,  thereunto  duly  authorized.





CROSSMANN  COMMUNITIES,  INC.


/s/Jennifer  A.  Holihen
Jennifer  A.  Holihen
Director,  Chief  Financial  Officer;
Treasurer;  Secretary;
(Principal  Financial  and  Accounting  Officer)





Dated:    November  26,  1997