SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* HORTON TERRILL J (Last) (First) (Middle) 1901 ASCENSION BLVD. SUITE 100 (Street) ARLINGTON, TX 76006 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol HORTON D R INC /DE/ [ DHI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 09/05/2003
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/05/2003	09/05/2003	S		500	D	$32.9	1(1)	D
Common Stock	09/05/2003	09/05/2003	S		1,000	D	$32.92	1(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Table I: Following all the transactions listed on this Form 4, Mr. Horton directly held 1,006,719 shares of DHI common stock and indirectly held additional shares of common stock of DHI as follows: (i) 749,992 shares held by the Donald Ray Horton Trust, (ii) 684,003 shares held by the Martha Elizabeth Horton Trust, (iii) 1,769,692 shares held by the Donald Ryan Horton Trust and (iv) 1,769,692 shares held by the Douglas Reagan Horton Trust. At this date, Mr. Horton's ownership of derivative securities of DHI is set forth in under "Remark 1" below.

Remarks:

Remark 1: Derivative Securities: As of this date, Mr. Horton has the following direct ownership of derivative securities of DHI: Employee Stock Option (right to buy), 10,000 stock options with 10,000 shares of common stock underlying these options, at an exercise price of $18.99 per share, with a November 21, 2002 grant date and a November 21, 2012 expiration date. The 10,000 options have a five year vesting schedule with the initial 2,000 options vesting on November 21, 2003.

	Terrill J. Horton	09/09/2003
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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