M.D.C. (MDC) 10-Q 1 May 14 2014 Q1 Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 29, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'MDC HOLDINGS INC	'
Document Type	'10-Q	'
Current Fiscal Year End Date	'--12-31	'
Entity Common Stock, Shares Outstanding	'	48,821,676
Amendment Flag	'false	'
Entity Central Index Key	'0000773141	'
Entity Current Reporting Status	'Yes	'
Entity Voluntary Filers	'No	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Well-known Seasoned Issuer	'Yes	'
Document Period End Date	31-Mar-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q1	'

Consolidated_Balance_Sheets_Cu

Consolidated Balance Sheets (Current Period Unaudited) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
ASSETS	'	'
Cash and cash equivalents	$94,819	$199,338
Housing completed or under construction	712,069	636,700
Land and land under development	838,703	774,961
Total inventories	1,550,772	1,411,661
Deferred tax asset, net of valuation allowance of $8,201 at March 31, 2014 and December 31, 2013, respectively	174,006	176,262
Prepaid and other assets	62,138	53,525
Total Assets	2,550,237	2,595,449
LIABILITIES AND EQUITY	'	'
Total Liabilities	1,340,548	1,382,200
Total Liabilities	1,340,548	1,382,200
Accounts payable and accrued liabilities	55,135	55,639
Stockholders' Equity	'	'
Preferred stock, $0.01 par value; 25,000,000 shares authorized; none issued or outstanding	0	0
Common stock, $0.01 par value; 250,000,000 shares authorized; 48,821,676 and 48,788,887 issued and outstanding at March 31, 2014 and December 31, 2013, respectively	488	488
Additional paid-in-capital	909,278	908,090
Retained earnings	292,394	293,096
Accumulated other comprehensive income	7,529	11,575
Total Stockholders' Equity	1,209,689	1,213,249
Total Liabilities and Stockholders' Equity	2,550,237	2,595,449
Homebuilding [Member]	'	'
ASSETS	'	'
Cash and cash equivalents	68,897	148,634
Marketable securities	508,744	569,021
Restricted cash	1,505	2,195
Trade and other receivables	30,134	23,407
Housing completed or under construction	712,069	636,700
Land and land under development	838,703	774,961
Total inventories	1,550,772	1,411,661
Property and equipment, net	30,897	31,248
Deferred tax asset, net of valuation allowance of $8,201 at March 31, 2014 and December 31, 2013, respectively	174,006	176,262
Metropolitan district bond securities (related party)	13,027	12,729
Prepaid and other assets	62,138	53,525
Total Assets	2,440,120	2,428,682
LIABILITIES AND EQUITY	'	'
Accounts payable	31,591	15,046
Accrued liabilities	118,524	152,821
Senior notes, net	1,095,958	1,095,620
Total Liabilities	1,246,073	1,263,487
Total Liabilities	1,246,073	1,263,487
Financial Services [Member]	'	'
ASSETS	'	'
Cash and cash equivalents	25,922	50,704
Marketable securities	15,870	19,046
Mortgage loans held-for-sale, net	64,800	92,578
Other assets	3,525	4,439
Total Assets	110,117	166,767
LIABILITIES AND EQUITY	'	'
Total Liabilities	94,475	118,713
Total Liabilities	94,475	118,713
Accounts payable and accrued liabilities	55,135	55,639
Mortgage repurchase facility	$39,340	$63,074

Consolidated_Balance_Sheets_Cu1

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, except Share data, unless otherwise specified
Deferred tax asset, valuation allowance (in Dollars)	$8,201	$8,201
Preferred stock, par value (in Dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$0.01	$0.01
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	48,821,676	48,788,887
Common stock, shares outstanding	48,821,676	48,788,887
Homebuilding [Member]	'	'
Deferred tax asset, valuation allowance (in Dollars)	$8,201	$8,201

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (Current Period Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Homebuilding:	'	'
Interest expense	($685)	($817)
Loss on early extinguishment of debt	-9,412	'
Income (loss) before income taxes	18,640	22,586
Provision for income taxes	-7,136	-70
Net income	11,504	22,516
Other comprehensive income (loss) related to available for sale securities, net of tax	-4,046	2,535
Comprehensive income	7,458	25,051
Earnings per share:	'	'
Basic (in Dollars per share)	$0.24	$0.46
Diluted (in Dollars per share)	$0.23	$0.45
Weighted average common shares outstanding	'	'
Basic (in Shares)	48,585,757	48,342,145
Diluted (in Shares)	48,854,675	48,922,335
Dividends declared per share (in Dollars per share)	$0.25	'
Homebuilding [Member]	'	'
Homebuilding:	'	'
Home sale revenues	318,534	331,748
Home cost of sales	-259,478	-274,076
Gross margin	59,056	57,672
Selling, general and administrative expenses	-48,341	-48,201
Interest and other income	13,549	6,549
Interest expense	-685	-817
Other expense	-614	-356
Loss on early extinguishment of debt	-9,412	'
Income (loss) before income taxes	13,553	14,847
Financial Services [Member]	'	'
Homebuilding:	'	'
Home sale revenues	9,223	12,506
Revenues	9,223	12,506
Expenses	-4,924	-5,642
Interest and other income	788	875
Income (loss) before income taxes	$5,087	$7,739

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Current Period Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Operating Activities:	'	'
Net income	$11,504	$22,516
Adjustments to reconcile net income to net cash used in operating activities:	'	'
Loss on early extinguishment of debt	9,412	'
Stock-based compensation expense	1,292	3,376
Depreciation and amortization	934	1,078
Amortization of discount (premium) on marketable debt securities	-90	619
Deferred income tax	7,103	'
Restricted cash	690	-667
Trade and other receivables	-8,711	-3,970
Mortgage loans held-for-sale	27,778	33,524
Prepaid expenses and other assets	-6,881	-6,470
Accounts payable and accrued liabilities	-18,371	-52,036
Net cash used in operating activities	-114,248	-55,418
Investing Activities:	'	'
Purchases of marketable securities	-356,287	-150,811
Maturities of marketable securities	133,724	'
Sales of marketable securities	279,450	44,668
Purchases of property and equipment	-545	-926
Net cash provided by (used in) investing activities	56,342	-107,069
Financing Activities:	'	'
Advances (payments) on mortgage repurchase facility, net	-23,734	-34,859
Proceeds from issuance of senior notes	248,375	247,813
Repayment of senior notes	-259,118	'
Dividend payments	-12,207	-12,207
Proceeds from exercise of stock options	71	5,118
Net cash provided by (used in) financing activities	-46,613	218,072
Net increase (decrease) in cash and cash equivalents	-104,519	55,585
Beginning of period	199,338	160,095
End of period	94,819	215,680
Housing Completed Or Under Construction [Member]	'	'
Adjustments to reconcile net income to net cash used in operating activities:	'	'
Land and Housing Inventories	-75,190	-8,618
Land And Land Under Development [Member]	'	'
Adjustments to reconcile net income to net cash used in operating activities:	'	'
Land and Housing Inventories	($63,718)	($44,770)

Note_1_Basis_of_Presentation

Note 1 - Basis of Presentation	3 Months Ended
	Mar. 31, 2014
Accounting Policies [Abstract]	'
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]	'
	1	Basis of Presentation
	The Unaudited Consolidated Financial Statements of M.D.C. Holdings, Inc. ("MDC," “the Company," “we,” “us,” or “our” which refers to M.D.C. Holdings, Inc. and its subsidiaries) have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). Accordingly, they do not include all information and footnotes required by U.S. generally accepted accounting principles (“GAAP”) for complete financial statements. These statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of MDC at March 31, 2014 and for all periods presented. These statements should be read in conjunction with MDC’s Consolidated Financial Statements and Notes thereto included in MDC’s Annual Report on Form 10-K for the year ended December 31, 2013. Certain prior year amounts have been reclassified to conform to the current year’s presentation.

Note_2_Segment_Reporting

Note 2 - Segment Reporting	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	2	Segment Reporting
	Our operating segments are defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the chief operating decision-maker, or decision-making group, to evaluate performance and make operating decisions. We have identified our chief operating decision-makers (“CODMs”) as two key executives—the Chief Executive Officer and the Chief Operating Officer.
	We have identified each homebuilding division as an operating segment. Our operating segments have been aggregated into the reportable segments noted below because they are similar in the following regards: (1) economic characteristics; (2) housing products; (3) class of homebuyer; (4) regulatory environments; and (5) methods used to construct and sell homes. Our homebuilding reportable segments are as follows:
		●	West (Arizona, California, Nevada and Washington)
		●	Mountain (Colorado and Utah)
		●	East (Virginia, Florida and Maryland, which includes Pennsylvania, Delaware and New Jersey)
	Our financial services business consists of the operations of the following operating segments: (1) HomeAmerican Mortgage Corporation (“HomeAmerican”); (2) Allegiant Insurance Company, Inc., A Risk Retention Group (“Allegiant”); (3) StarAmerican Insurance Ltd. (“StarAmerican”); (4) American Home Insurance Agency, Inc.; and (5) American Home Title and Escrow Company. Due to its contributions to consolidated pretax income we consider HomeAmerican to be a reportable segment (“Mortgage operations”). The remaining operating segments have been aggregated into one reportable segment (“Other”) because they do not individually exceed 10 percent of: (1) consolidated revenue; (2) the greater of (A) the combined reported profit of all operating segments that did not report a loss or (B) the positive value of the combined reported loss of all operating segments that reported losses; or (3) consolidated assets.
	Corporate is a non-operating segment that develops and implements strategic initiatives and supports our operating divisions by centralizing key administrative functions such as finance and treasury, information technology, insurance and risk management, litigation and human resources. Corporate also provides the necessary administrative functions to support MDC as a publicly traded company. A portion of the expenses incurred by Corporate are allocated to the homebuilding operating segments based on their respective percentages of assets, and to a lesser degree, a portion of Corporate expenses are allocated to the financial services segments. A majority of Corporate’s personnel and resources are primarily dedicated to activities relating to the homebuilding segments, and, therefore, the balance of any unallocated Corporate expenses is included in the homebuilding segment.
	The table set forth below summarizes home sale revenues for our homebuilding operations and revenues for our financial services operations.
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Homebuilding
	West		$	136,422		$	134,979
	Mountain			100,945			133,377
	East			81,167			63,392
	Total home sale revenues		$	318,534		$	331,748
	Financial Services
	Mortgage operations		$	5,119		$	9,044
	Other			4,104			3,462
	Total financial services revenues		$	9,223		$	12,506
	The following table summarizes pretax income for our homebuilding and financial services operations.
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Homebuilding
	West		$	12,650		$	10,611
	Mountain			7,359			12,996
	East			2,661			1,528
	Corporate			(9,117	)		(10,288	)
	Total homebuilding pretax income		$	13,553		$	14,847
	Financial Services
	Mortgage operations		$	2,559		$	5,999
	Other			2,528			1,740
	Total financial services pretax income		$	5,087		$	7,739
	Total pretax income		$	18,640		$	22,586
	The table set forth below summarizes total assets for our homebuilding and financial services operations. The assets in our West, Mountain and East segments consist primarily of inventory while the assets in our Corporate segment consist primarily of cash and cash equivalents, marketable securities and our deferred tax asset. The assets in our financial services segment consist mostly of cash and cash equivalents, marketable securities and mortgage loans held-for-sale.
			March 31,			December 31,
			2014			2013
			(Dollars in thousands)
	Homebuilding assets
	West		$	837,792		$	760,450
	Mountain			467,630			418,796
	East			325,042			297,627
	Corporate			809,656			951,809
	Total homebuilding assets		$	2,440,120		$	2,428,682
	Financial services assets
	Mortgage operations		$	70,848		$	99,065
	Other			39,269			67,702
	Total financial services assets		$	110,117		$	166,767
	Total assets		$	2,550,237		$	2,595,449

Note_3_Earnings_Loss_Per_Share

Note 3 - Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2014
Earnings per share: [Abstract]	'
Earnings Per Share [Text Block]	'
	3	Earnings Per Share
	A company that has participating securities (for example, holders of unvested restricted stock that has nonforfeitable dividend rights) is required to utilize the two-class method to calculate earnings per share (“EPS”) unless the treasury stock method results in lower EPS. The two-class method is an allocation of earnings/(loss) between the holders of common stock and a company’s participating security holders. Under the two-class method, earnings/(loss) for the reporting period are allocated between common shareholders and other security holders based on their respective rights to receive distributed earnings (i.e., dividends) and undistributed earnings (i.e., net income/(loss)). Currently, we have one class of security and we have participating security holders consisting of shareholders of unvested restricted stock. Basic EPS is calculated by dividing income or loss attributable to common stockholders by the weighted average number of shares of common stock outstanding. To calculate diluted EPS, basic EPS is further adjusted to include the effect of potential dilutive stock options outstanding. The following table shows basic and diluted EPS calculations:
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands, except per share amounts)
	Numerator
	Net income		$	11,504		$	22,516
	Less: distributed earnings allocated to participating securities			(52	)		-
	Less: undistributed earnings allocated to participating securities			-			(375	)
	Net income attributable to common stockholders (numerator for basic earnings per share)			11,452			22,141
	Add back: undistributed earnings allocated to participating securities			-			375
	Less: undistributed earnings reallocated to participating securities			-			(370	)
	Numerator for diluted earnings per share under two class method		$	11,452		$	22,146
	Denominator
	Weighted-average common shares outstanding			48,585,757			48,342,145
	Add: dilutive effect of stock options			268,918			580,190
	Denominator for diluted earnings per share under two class method			48,854,675			48,922,335
	Basic Earnings Per Common Share		$	0.24		$	0.46
	Diluted Earnings Per Common Share		$	0.23		$	0.45
	Diluted EPS for the quarters ended March 31, 2014 and 2013 excluded options to purchase approximately 3.7 million and 2.9 million shares, respectively, of common stock because the effect of their inclusion would be anti-dilutive.

Note_4_Accumulated_Other_Compr

Note 4 - Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Comprehensive Income (Loss) Note [Text Block]	'
	4	Accumulated Other Comprehensive Income
	The following table sets forth our changes in accumulated other comprehensive income:
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Unrealized gains (losses) on available-for-sale marketable securities (1) :
	Beginning balance		$	7,655		$	4,838
	Other comprehensive income (loss) before reclassifications			(33	)		2,221
	Amounts reclassified from accumulated other comprehensive income (2)			(4,013	)		314
	Ending balance		$	3,609		$	7,373
	Unrealized gains on available-for-sale metropolitan district bond securities (1) :
	Beginning balance		$	3,920		$	-
	Other comprehensive income before reclassifications			-			-
	Amounts reclassified from accumulated other comprehensive income			-			-
	Ending balance		$	3,920		$	-
	Total ending accumulated other comprehensive income		$	7,529		$	7,373
		-1	All amounts net-of-tax.
		-2	See separate table below for details about these reclassifications.
	The following table sets forth the activity related to reclassifications out of accumulated other comprehensive income (loss) related to available for sale securities:
			Three Months Ended
			March 31,
	Affected Line Item in the Statements of Operations		2014			2013
			(Dollars in thousands)
	Homebuilding interest and other income		$	6,537		$	(295	)
	Financial services interest and other income			(12	)		(19	)
	Income before income taxes			6,525			(314	)
	Provision for income taxes			(2,512	)		-
	Net income		$	4,013		$	(314	)

Note_5_Fair_Value_Measurements

Note 5 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	5	Fair Value Measurements
	ASC Topic 820, Fair Value Measurements (“ASC 820”), defines fair value, establishes guidelines for measuring fair value and expands disclosures regarding fair value measurements. ASC 820 establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions.
	The following table sets forth the fair values and methods used for measuring the fair values of financial instruments on a recurring basis:
						Fair Value
	Financial Instrument		Hierarchy			March 31,				December 31,
						2014				2013
						(Dollars in thousands)
	Marketable securities (available-for-sale)
	Equity securities		Level 1			$	459,314			$	389,323
	Debt securities - maturity less than 1 year		Level 2				14,053				72,577
	Debt securities - maturity 1 to 5 years		Level 2				34,653				106,566
	Debt securities - maturity greater than 5 years		Level 2				16,594				19,601
	Total available-for-sale securities					$	524,614			$	588,067
	Mortgage loans held-for-sale, net		Level 2			$	64,800			$	92,578
	Metropolitan district bond securities (related party) (available-for-sale)		Level 3			$	13,027			$	12,729
	The following methods and assumptions were used to estimate the fair value of each class of financial instruments.
	The fair value of our cash and cash equivalents, restricted cash, trade and other receivables, inventories, prepaid and other assets, accounts payable, and accrued liabilities approximate their carrying value.
	Marketable Securities.  We have marketable debt and equity securities.  Our equity securities consist primarily of holdings in mutual fund securities, which invest mostly in debt securities. The remaining equity securities in our investment portfolio are holdings in corporate equities. Our debt securities consist primarily of fixed and floating rate interest earning debt securities, which may include, among others, United States government and government agency debt and corporate debt. We measure the fair value of our debt securities using a third party pricing service that either provides quoted market prices in active markets for identical or similar securities which are level 1 inputs, or uses observable inputs for their pricing, which are level 2 inputs. As of March 31, 2014 and December 31, 2013, all of our marketable securities were treated as available-for-sale investments and, as such, we have recorded all of our marketable securities at fair value with changes in fair value being recorded as a component of accumulated other comprehensive income.
	The following tables set forth the amortized cost and estimated fair value of our available-for-sale marketable securities.
			31-Mar-14							31-Dec-13
			Amortized			Fair Value				Amortized		Fair Value
			Cost							Cost
			(Dollars in thousands)
	Homebuilding:
	Equity securities		$	450,095		$	455,214			$	375,142	$	385,303
	Debt securities			53,125			53,530				181,635		183,718
	Total homebuilding available-for-sale securities		$	503,220		$	508,744			$	556,777	$	569,021
	Financial Services:
	Equity securities		$	4,000		$	4,100			$	4,000	$	4,020
	Debt securities			11,482			11,770				14,721		15,026
	Total financial services available-for-sale debt securities		$	15,482		$	15,870			$	18,721	$	19,046
	Total available-for-sale marketable securities		$	518,702		$	524,614			$	575,498	$	588,067
	As of March 31, 2014 and December 31, 2013, our marketable securities were in net unrealized gain positions totaling $5.9 millionand $12.6 million, respectively. Our marketable securities that are in unrealized loss positions aggregated to unrealized losses of $1.3 million and $1.1 million as of March 31, 2014 and December 31, 2013, respectively. The table below sets forth the debt and equity securities that were in an aggregate loss position. We do not believe that the aggregate unrealized loss related to our debt or equity securities as of March 31, 2014 is material to our operations.
			31-Mar-14									31-Dec-13
			Number of Securities in Loss Position			Aggregate Loss Position				Aggregate Fair Value of Securities in a Loss Position		Number of Securities in Loss Position		Aggregate Loss Position			Aggregate Fair Value of Securities in a Loss Position
			(Dollars in thousands)
	Type of Investment
	Debt			39		$	(211	)		$	26,628		72	$	(430	)	$	46,440
	Equity			6			(1,052	)			202,183		7		(713	)		14,174
	Total			45		$	(1,263	)		$	228,811		79	$	(1,143	)	$	60,614
	The followings table sets forth gross realized gains and losses from the sale of available-for-sale marketable securities, which were included in either interest and other income in the homebuilding section or interest and other income in the financial services section of our consolidated statements of operations.
			Three Months Ended March 31,
			2014			2013
			(Dollars in thousands)
	Gross realized gains on sales of available-for-sale securities
	Equity securities		$	5,431		$	-
	Debt securities			1,261			46
	Total		$	6,692		$	46
	Gross realized losses on sales of available-for-sale securities
	Equity securities		$	(154	)	$	-
	Debt securities			(12	)		(404	)
	Total		$	(166	)	$	(404	)
	Net realized gain (loss) on sales of available-for-sale securities		$	6,526		$	(358	)
	Mortgage Loans Held-for-Sale, Net.  As of March 31, 2014, the primary components of our mortgage loans held-for-sale that are measured at fair value on a recurring basis are: (1) mortgage loans held-for-sale under commitments to sell; and (2) mortgage loans held-for-sale not under commitments to sell. At March 31, 2014 and December 31, 2013, we had $46.4 million and $66.1 million, respectively, of mortgage loans held-for-sale under commitments to sell for which fair value was based upon Level 2 inputs, which were the quoted market prices for those mortgage loans. At March 31, 2014 and December 31, 2013, we had $18.4 million and $26.5 million, respectively, of mortgage loans held-for-sale that were not under commitments to sell. The fair value for those loans was primarily based upon the estimated market price received from an outside party which is a Level 2 fair value input.
	Metropolitan District Bond Securities (Related Party).  The Metropolitan district bond securities (the “Metro Bonds”) are included in the homebuilding section of our accompanying consolidated balance sheets. We acquired the Metro Bonds from a quasi-municipal corporation in the state of Colorado (the “Metro District”), which was formed to help fund and maintain the infrastructure associated with a master-planned community being developed by our Company. Cash flows received by the Company from these securities reflect principal and interest payments from the Metro District that are supported by an annual levy on the taxable value of real estate and personal property within the Metro District’s boundaries and a one-time fee assessed on permits obtained by MDC in the Metro District. The stated year of maturity for the Metro Bonds is 2037. However, if the unpaid principal and all accrued interest are not paid off by the year 2037, the Company will continue to receive principal and interest payments into perpetuity until the unpaid principal and accrued interest is paid in full. Since 2007 and through the first quarter of 2013, we accounted for these securities under the cost recovery method and they were not carried at fair value in accordance with ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality (“ASC 310-30”).
	In the second quarter of 2013, we determined that these securities no longer were required to be accounted for under the cost recovery method due to an increase in the number of new homes delivered in the community coupled with improvements in property values within the Metro District. In accordance with ASC 310-30, we will adjust the bond principal balance on a prospective basis using an interest accretion model that utilizes future cash flows expected to be collected. Furthermore, as this investment is accounted for as an available-for-sale asset, we will update its fair value on a quarterly basis, with the adjustment being recorded through other comprehensive income. The fair value is based upon a discounted future cash flow model, which uses Level 3 inputs. The two primary unobservable inputs used in our discounted cash flow model are the forecasted number of homes to be closed, as they drive any increases to the tax base for the Metro District, and the discount rate. The table below provides quantitative data regarding each unobservable input and the sensitivity of fair value to potential changes in those unobservable inputs.
			Quantitative Data						Sensitivity Analysis
	Unobservable Input		Range			Weighted Average			Movement in		Movement in
									Fair Value from		Fair Value from
									Increase in Input		Decrease in Input
	Number of homes closed per year		0 to 155				88		Increase		Decrease
	Discount rate		6% to 16%				10	%	Decrease		Increase
	The table set forth below summarizes the activity for our Metro Bonds:
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
Balance at beginning of period		$	12,729		$	5,818
Increase in fair value (recorded in other comprehensive income)			-			-
Change due to accretion of principal			298			-
Cash receipts			-			-
Balance at end of period		$	13,027		$	5,818
Mortgage Repurchase Facility. The debt associated with our Mortgage Repurchase Facility is at floating rates or at fixed rates that approximate current market rates and have relatively short-term maturities, generally within 30 days. The fair value approximates carrying value and is based on Level 2 inputs.
Senior Notes. The estimated values of the senior notes in the following table are based on Level 2 inputs, including market prices of other homebuilder bonds.
		31-Mar-14							31-Dec-13
		Carrying			Fair Value				Carrying		Fair Value
		Amount							Amount
		(Dollars in thousands)
5⅜% Senior Notes due December 2014, net			-			-				249,814		258,750
5⅜% Senior Notes due July 2015, net			249,946			260,313				249,935		262,562
5⅝% Senior Notes due February 2020, net			246,012			266,250				245,871		259,688
5½% Senior Notes due January 2024, net			250,000			255,313				-		-
6% Senior Notes due January 2043			350,000			309,750				350,000		305,083
Total		$	1,095,958		$	1,091,626			$	1,095,620	$	1,086,083

Note_6_Inventories

Note 6 - Inventories	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Inventory Disclosure [Text Block]	'
	6	Inventories
	The following table sets forth, by reportable segment, information relating to our homebuilding inventories:
			March 31,		December 31,
			2014		2013
			(Dollars in thousands)
	Housing Completed or Under Construction:
	West		$	313,078	$	270,778
	Mountain			225,403		194,101
	East			173,588		171,821
	Subtotal			712,069		636,700
	Land and Land Under Development:
	West			492,603		459,512
	Mountain			219,944		211,526
	East			126,156		103,923
	Subtotal			838,703		774,961
	Total Inventories		$	1,550,772	$	1,411,661
	Our inventories are primarily associated with communities where we intend to construct and sell homes on the land, including models and unsold started homes. Costs capitalized to land and land under development primarily include: (1) land costs; (2) land development costs; (3) entitlement costs; (4) capitalized interest; (5) engineering fees; and (6) title insurance, real property taxes and closing costs directly related to the purchase of the land parcel. Components of housing completed or under construction primarily include: (1) land costs transferred from land and land under development; (2) direct construction costs associated with a house; (3) real property taxes, engineering fees, permits and other fees; (4) capitalized interest; and (5) indirect construction costs, which include field construction management salaries and benefits, utilities and other construction related costs. Land costs are transferred from land and land under development to housing completed or under construction at the point in time that construction of a home on an owned lot begins.
	In accordance with ASC 360, Property, Plant, and Equipment (“ASC 360”), homebuilding inventories are carried at cost unless events and circumstances indicate that the carrying value of the underlying subdivision may not be recoverable. We evaluate inventories for impairment at each quarter end on a subdivision level basis as each such subdivision represents the lowest level of identifiable cash flows. In making this determination, we review, among other things, the following for each subdivision:
		•	actual and trending “Operating Margin” (which is defined as home sale revenues less home cost of sales and all direct incremental costs associated with the home closing, including sales commissions) for homes closed;
		•	estimated future undiscounted cash flows and Operating Margin;
		•	forecasted Operating Margin for homes in backlog;
		•	actual and trending net and gross home orders;
		•	base sales price and home sales incentive information for homes closed, homes in backlog and homes available for sale;
		•	market information for each sub-market, including competition levels, home foreclosure levels, the size and style of homes currently being offered for sale and lot size; and
		•	known or probable events indicating that the carrying value may not be recoverable.
	If events or circumstances indicate that the carrying value of our inventory may not be recoverable, assets are reviewed for impairment by comparing the undiscounted estimated future cash flows from an individual subdivision to its carrying value. If the undiscounted future cash flows are less than the subdivision’s carrying value, the carrying value of the subdivision is written down to its then estimated fair value. We generally determine the estimated fair value of each subdivision by determining the present value of the estimated future cash flows at discount rates that are commensurate with the risk of the subdivision under evaluation. For each of the three months ended March 31, 2014 and 2013, we did not record any inventory impairment charges.

Note_7_Capitalization_of_Inter

Note 7 - Capitalization of Interest	3 Months Ended
	Mar. 31, 2014
Capitalization Disclosure [Abstract]	'
Capitalization Disclosure [Text Block]	'
	7	Capitalization of Interest
	We capitalize interest to inventories during the period of development in accordance with ASC Topic 835, Interest (“ASC 835”). Homebuilding interest capitalized as a cost of inventories is included in cost of sales as related units or lots are sold. To the extent our homebuilding debt exceeds our qualified assets, as defined in ASC 835, we expense a portion of interest incurred. Qualified homebuilding assets consist of all lots and homes, excluding finished unsold homes or finished models, within projects that are actively selling or under development. The table set forth below summarizes homebuilding interest activity.
	The homebuilding interest expensed in the table below relates to the portion of interest incurred where our homebuilding debt exceeded our qualified inventory for such periods in accordance with ASC 835.
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Homebuilding interest incurred		$	19,182		$	14,339
	Less: Interest capitalized			(18,497	)		(13,522	)
	Homebuilding interest expensed		$	685		$	817
	Interest capitalized, beginning of period		$	74,155		$	69,143
	Interest capitalized during period			18,497			13,522
	Less: Previously capitalized interest included in home cost of sales			(11,724	)		(9,874	)
	Interest capitalized, end of period		$	80,928		$	72,791

Note_8_Homebuilding_Prepaid_Ex

Note 8 - Homebuilding Prepaid Expenses and Other Assets	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Other Assets Disclosure [Text Block]	'
	8	Homebuilding Prepaid Expenses and Other Assets
	The following table sets forth the components of homebuilding prepaid expenses and other assets.
			March 31,		December 31,
			2014		2013
			(Dollars in thousands)
	Land option deposits		$	17,908	$	15,221
	Deferred marketing costs			20,272		15,830
	Prepaid expenses			4,260		4,349
	Goodwill			6,008		6,008
	Deferred debt issuance costs, net			13,047		11,527
	Other			643		590
	Total		$	62,138	$	53,525

Note_9_Homebuilding_Accrued_Li

Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities	3 Months Ended
	Mar. 31, 2014
Payables and Accruals [Abstract]	'
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	'
	9	Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities
	The following table sets forth information relating to homebuilding accrued liabilities.
			March 31,		December 31,
			2014		2013
			(Dollars in thousands)
	Accrued compensation and related expenses		$	12,127	$	35,990
	Accrued executive deferred compensation			30,796		30,796
	Accrued interest			14,391		24,198
	Warranty reserves			21,447		22,238
	Customer and escrow deposits			11,758		10,759
	Land development and home construction accruals			8,168		9,592
	Other accrued liabilities			19,837		19,248
	Total accrued liabilities		$	118,524	$	152,821
	The following table sets forth information relating to financial services accounts payable and accrued liabilities.
			March 31,		December 31,
			2014		2013
			(Dollars in thousands)
	Insurance reserves		$	49,076	$	49,637
	Accounts payable and other accrued liabilities			6,059		6,002
	Total accounts payable and accrued liabilities		$	55,135	$	55,639

Note_10_Warranty_Accrual

Note 10 - Warranty Accrual	3 Months Ended
	Mar. 31, 2014
Product Warranties Disclosures [Abstract]	'
Product Warranty Disclosure [Text Block]	'
	10	Warranty Accrual
	Our homes are sold with limited third-party warranties. We record expenses and warranty reserves for general and structural warranty claims, as well as reserves for known, unusual warranty-related expenditures. Warranty reserves are established based upon historical payment experience in an amount estimated to be adequate to cover expected costs of materials and outside labor during warranty periods. The establishment of warranty reserves for closed homes and the evaluation of our warranty reserve balance is based on an internally developed analysis that includes known facts and interpretations of circumstances, including, among other things, our trends in historical warranty payment levels and warranty payments for claims not considered to be normal and recurring.
	Warranty reserves are included in accrued liabilities in the homebuilding section of our consolidated balance sheets and adjustments to our warranty reserves are recorded as an increase or reduction to home cost of sales in the homebuilding section of our consolidated statements of operations.
	The table set forth below summarizes warranty accrual and payment activity for the three months ended March 31, 2014 and 2013. Adjustments in the three month periods ended March 31, 2014 and 2013 were not material to our operations. Furthermore, the impact of the change in our warranty expense provision rate from the first quarter of 2013 to the first quarter of 2014 did not materially affect our warranty expense or our gross margin from home sales for the three months ended March 31, 2014.
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Balance at beginning of period		$	22,238		$	23,151
	Expense provisions			991			1,122
	Cash payments			(982	)		(1,475	)
	Adjustments			(800	)		300
	Balance at end of period		$	21,447		$	23,098

Note_11_Insurance_Reserves

Note 11 - Insurance Reserves	3 Months Ended
	Mar. 31, 2014
Insurance Loss Reserves [Abstract]	'
Liability for Future Policy Benefits and Unpaid Claims Disclosure [Text Block]	'
	11	Insurance Reserves
	The establishment of reserves for estimated losses associated with insurance policies issued by Allegiant and re-insurance agreements issued by StarAmerican are based on actuarially developed studies that include known facts and interpretations of circumstances, including our experience with similar cases and historical trends involving claim payment patterns, pending levels of unpaid claims, product mix or concentration, claim severity, frequency patterns depending on the business conducted, and changing regulatory and legal environments.
	The table set forth below summarizes the insurance reserve activity for the three months ended March 31, 2014 and 2013. The insurance reserve is included as a component of accrued liabilities in the financial services section of the accompanying consolidated balance sheets.
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Balance at beginning of period		$	49,637		$	47,852
	Expense provisions			1,310			1,527
	Cash payments, net of recoveries			(1,871	)		(430	)
	Balance at end of period		$	49,076		$	48,949
	In the ordinary course of business, we make payments from our insurance reserves to settle litigation claims arising primarily from our homebuilding activities. These payments are irregular in both their timing and their magnitude. As a result, the cash payments, net of recoveries shown for the three months ended March 31, 2014 and 2013 are not necessarily indicative of what future cash payments will be for subsequent periods.

Note_12_Deferred_Compensation_

Note 12 - Deferred Compensation Retirement Plans	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Compensation and Employee Benefit Plans [Text Block]	'
	12	Deferred Compensation Retirement Plans
	Effective August 1, 2008, the Company entered into amended and restated employment agreements (as amended on March 8, 2012, the “Employment Agreements”) with Larry A. Mizel, Chairman of the Board and Chief Executive Officer, and David D. Mandarich, President and Chief Operating Officer (collectively, the “Executive Officers”), which provided certain annual post-retirement pension benefits (the “Retirement Benefits”) depending on the year of retirement. In response to concerns expressed by significant institutional investors, and in accordance with the recommendation of an independent compensation consultant to the Company’s Compensation Committee, the Company announced that it had reached agreements (collectively, the “Second Amendments”) with the Executive Officers for the early termination, effective on October 18, 2013, of the Retirement Benefits contained in their respective Employment Agreements. Pursuant to the Second Amendments, the Company will pay each of Mr. Mizel and Mr. Mandarich a deferred lump sum in the amount of $14.8 million and $16.0 million, respectively, in full satisfaction of their past, present and future Retirement Benefits. The Company’s termination of the Retirement Benefits is irrevocable. These payments, which equal the amounts accrued on the books of the Company as of June 30, 2013 with respect to the Company’s estimated liability to pay Retirement Benefits, will be made to the Executive Officers on October 20, 2014. As a result of the termination of the Retirement Benefits, the Company no longer accrues additional expenses relating to Retirement Benefits.

Note_13_Income_Taxes

Note 13 - Income Taxes	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	13	Income Taxes
	At the end of each interim period, we are required to estimate our annual effective tax rate for the fiscal year and use that rate to provide for income taxes for the current year-to-date reporting period. As a result, we recorded income tax expense of $7.1 million and $0.1 million for the three months ended March 31, 2014 and 2013, respectively, while our overall effective income tax rates were 38.3% and 0.3% for the three months ended March 31, 2014 and 2013, respectively. The increase in the effective tax rate during the 2014 first quarter, compared with the same period during 2013, resulted primarily from the reversal of substantially all of our deferred tax asset valuation allowance of $227.3 million in the second quarter of 2013. As a result of the valuation allowance release during 2013 and changes in unrecognized tax benefits, our effective tax rate during the first quarter of 2013 was not meaningful as the income tax benefit was not directly correlated to the amount of pretax income generated in such period.
	Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of the assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The tax effects of significant temporary differences that give rise to our net deferred tax asset are as follows:
			March 31,			December 31,
			2014			2013
			(Dollars in thousands)
	Deferred tax assets:
	Federal net operating loss carryforwards		$	75,706		$	72,915
	State net operating loss carryforwards			42,909			40,227
	Alternative minimum tax and other tax credit carryforwards			24,196			24,196
	Stock-based compensation expense			25,443			26,651
	Warranty, litigation and other reserves			15,313			15,543
	Accrued compensation			1,823			11,136
	Asset impairment charges			4,965			5,889
	Inventory, additional costs capitalized for tax purposes			7,021			7,064
	Other, net			3,986			3,446
	Total deferred tax assets			201,362			207,067
	Valuation allowance			(8,201	)		(8,201	)
	Total deferred tax assets, net of valuation allowance			193,161			198,866
	Deferred tax liabilities:
	Property, equipment and other assets			5,422			5,512
	Discount on notes receivable			4,204			4,204
	Deferred revenue			3,110			3,985
	Unrealized gain on marketable securities			4,754			7,368
	Other, net			1,665			1,535
	Total deferred tax liabilities			19,155			22,604
	Net deferred tax asset		$	174,006		$	176,262

Note_14_Senior_Notes

Note 14 - Senior Notes	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Long-term Debt [Text Block]	'
	14	Senior Notes
	The following table sets forth the carrying amount of our senior notes as of March 31, 2014 and December 31, 2013, net of applicable discounts:
			March 31,		December 31,
			2014		2013
			(Dollars in thousands)
	5⅜% Senior Notes due December 2014, net		$	-	$	249,814
	5⅜% Senior Notes due July 2015, net			249,946		249,935
	5⅝% Senior Notes due February 2020, net			246,012		245,871
	5½% Senior Notes due January 2024, net			250,000		-
	6% Senior Notes due January 2043			350,000		350,000
	Total		$	1,095,958	$	1,095,620
	On January 15, 2014, we issued $250 million of 5½% Senior Notes due 2024 (the “5½% Notes”). The 5½% Notes, which pay interest semi-annually in arrears on January 15 and July 15 of each year, with payments commencing July 15, 2014, are general unsecured obligations of MDC and rank equally and ratably with our other general unsecured and unsubordinated indebtedness. We received proceeds of $248.4 million, net of underwriting fees of $1.6 million.
	During the quarter, we redeemed our 5⅜% Senior Notes due December 2014.  As a result of this transaction, we paid $259.1 million to extinguish $250 million in debt principal with a carrying value, including unamortized deferred financing costs, of $249.7 million and recorded a $9.4 million expense for loss on extinguishment of debt.
	Our senior notes are not secured and, while the senior note indentures contain some restrictions on secured debt and other transactions, they do not contain financial covenants. Our senior notes are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by substantially all of our homebuilding segment subsidiaries.

Note_15_Stock_Based_Compensati

Note 15 - Stock Based Compensation	3 Months Ended
	Mar. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	15	Stock Based Compensation
	We account for share-based awards in accordance with ASC 718, Compensation-Stock Compensation, which requires the fair value of stock-based compensation awards to be amortized as an expense over the vesting period. Stock-based compensation awards are valued at fair value on the date of grant.
	During the three months ended March 31, 2014 and 2013, we expensed $0.6 million and $2.0 million, respectively, for stock option grants. The decrease in expense was primarily driven by $1.2 million of expense recorded for performance-based awards for our CEO and COO in the first quarter of 2013, which was not recorded in the first quarter of 2014. We expensed $0.7 million and $1.4 million for restricted stock awards during the three months ended March 31, 2014 and 2013, respectively.

Note_16_Commitments_and_Contin

Note 16 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	16	Commitments and Contingencies
	Surety Bonds and Letters of Credit. We are required to obtain surety bonds and letters of credit in support of our obligations for land development and subdivision improvements, homeowner association dues, warranty work, contractor license fees and earnest money deposits. At March 31, 2014, we had issued and outstanding surety bonds and letters of credit totaling $110.3 million and $32.2 million, respectively, including $16.7 million in letters of credit issued by HomeAmerican. The estimated cost to complete obligations related to these bonds and letters of credit was approximately $47.1 million and $5.4 million, respectively. The letters of credit as of March 31, 2014, excluding those issued by HomeAmerican, were outstanding under our unsecured revolving credit facility (see Note 18 for further discussion of the revolving credit facility). We expect that the obligations secured by these performance bonds and letters of credit generally will be performed in the ordinary course of business and in accordance with the applicable contractual terms. To the extent that the obligations are performed, the related performance bonds and letters of credit should be released and we should not have any continuing obligations. However, in the event any such performance bonds or letters of credit are called, our indemnity obligations could require us to reimburse the issuer of the performance bond or letter of credit.
	We have made no material guarantees with respect to third-party obligations.
	Mortgage Loan Loss Reserves. In the normal course of business, we establish reserves for potential losses associated with HomeAmerican’s sale of mortgage loans to third-parties. These reserves are created to address repurchase and indemnity claims by third-party purchasers of the mortgage loans, which claims arise primarily out of allegations of homebuyer fraud at the time of origination of the loan. These reserves are based upon, among other matters: (1) pending claims received from third-party purchasers associated with previously sold mortgage loans; (2) a current assessment of the potential exposure associated with future claims of homebuyer fraud in mortgage loans originated in prior periods; and (3) historical loss experience. In addition to reserves established for mortgage loans previously sold to third-parties, we establish reserves for loans that we have repurchased if we believe the loss is likely and estimable. Our mortgage loan reserves are reflected as a component of accrued liabilities in the financial services section of the accompanying consolidated balance sheets, and the associated expenses are included in expenses in the financial services section of the accompanying consolidated statements of operations.
	The following table summarizes the mortgage loan loss reserve activity.
			Three Months Ended
			March 31,
			2014			2013
			(Dollars in thousands)
	Balance at beginning of period		$	1,370		$	805
	Expense provisions			-			250
	Cash payments			-			(86	)
	Adjustments			(497	)		-
	Balance at end of period		$	873		$	969
	Legal Reserves. Because of the nature of the homebuilding business, we have been named as defendants in various claims, complaints and other legal actions arising in the ordinary course of business, including product liability claims and claims associated with the sale and financing of homes. In the opinion of management, the outcome of these ordinary course matters will not have a material adverse effect upon our financial condition, results of operations or cash flows.
	Lot Option Contracts. In the normal course of business, we enter into lot option purchase contracts (“Option Contracts”), generally through a deposit of cash or a letter of credit, for the right to purchase land or lots at a future point in time with predetermined terms. The use of such land option and other contracts generally allow us to reduce the risks associated with direct land ownership and development, reduces our capital and financial commitments and minimizes the amount of our land inventories on our consolidated balance sheets. Our obligation with respect to Option Contracts is generally limited to forfeiture of the related deposits. At March 31, 2014, we had cash deposits and letters of credit totaling $11.0 million and $3.0 million, respectively, at risk associated with the option to purchase 2,635 lots.

Note_17_Derivative_Financial_I

Note 17 - Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]	'
Derivative Instruments and Hedging Activities Disclosure [Text Block]	'
	17	Derivative Financial Instruments
	The derivative instruments we utilize in the normal course of business are interest rate lock commitments and forward sales of mortgage-backed securities, both of which typically are short-term in nature. Forward sales of mortgage-backed securities are utilized to hedge changes in fair value of our interest rate lock commitments as well as mortgage loans held-for-sale not under commitments to sell. For forward sales of securities, as well as interest rate lock commitments that are still outstanding at the end of a reporting period, we record the changes in fair value of the derivatives in revenues in the financial services section of our consolidated statements of operations with an offset to prepaid expenses and other assets or accounts payable and accrued liabilities in the financial services section of our accompanying consolidated balance sheets, depending on the nature of the change.
	At March 31, 2014, we had interest rate lock commitments with an aggregate principal balance of approximately $71.4 million. Additionally, we had $18.4 million of mortgage loans held-for-sale that were not under commitments to sell at March 31, 2014. In order to hedge the changes in fair value of our interest rate lock commitments and mortgage loans held-for-sale which had not yet been committed to a mortgage purchaser, we had forward sales of securities totaling $64.0 million at March 31, 2014.
	For the three months ended March 31, 2014 and 2013, we recorded net gains (losses) on our derivatives of $(0.4) million and $0.8 million, respectively.

Note_18_Lines_of_Credit_and_To

Note 18 - Lines of Credit and Total Debt Obligations	3 Months Ended
	Mar. 31, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	18	Lines of Credit
	Revolving Credit Facility. On December 13, 2013, we entered into an unsecured revolving credit facility (“Revolving Credit Facility”) with a group of lenders which may be used for general corporate purposes. Our Revolving Credit Facility has an aggregate commitment amount of $450 million (the “Commitment”) and a maturity date of December 13, 2018. Each lender may issue letters of credit in an amount up to 50% of its commitment. The facility permits an increase in the maximum Commitment amount to $1.0 billion upon our request, subject to receipt of additional commitments from existing or additional lenders. Interest rates on outstanding borrowings are determined by reference to a specified London Interbank Offered Rate (LIBOR), a specified federal funds effective rate or a specified prime rate, plus a margin that is determined based on our credit ratings and leverage ratio, as defined in the facility agreement. At any time at which our leverage ratio, as of the last day of the most recent calendar quarter, exceeds 55%, the aggregate principal amount of all consolidated senior debt borrowings outstanding may not exceed the borrowing base. There is no borrowing base requirement if our leverage ratio, as of the last day of the most recent calendar quarter, is 55% or less.
	The Revolving Credit Facility is fully and unconditionally guaranteed, jointly and severally, by most of our homebuilding segment subsidiaries. The facility contains various representations, warranties and covenants that we believe are customary for agreements of this type. The financial covenants include a consolidated tangible net worth test and a leverage test, along with a consolidated tangible net worth covenant, all as defined in the facility agreement. A failure to satisfy the foregoing tests does not constitute an event of default, but can trigger a “term-out” of the facility. A breach of the consolidated tangible net worth covenant (but not the consolidated tangible net worth test) would result in an event of default.
	The Revolving Credit Facility is subject to acceleration upon certain specified events of default, including breach of the consolidated tangible net worth covenant, failure to make timely payments, breaches of certain representations or covenants, failure to pay other material indebtedness, or another person becoming beneficial owner of 50% or more of our outstanding common stock. We believe we were in compliance with the representations, warranties and covenants included in the Revolving Credit Facility as of March 31, 2014.
	We incur costs associated with unused commitment fees pursuant to the terms of the Revolving Credit Facility. At March 31, 2014 and December 31, 2013, there were $15.5 million and $14.9 million, respectively, in letters of credit outstanding, which reduced the amounts available to be borrowed under the Revolving Credit Facility. We did not have any borrowings outstanding under the Revolving Credit Facility as of March 31, 2014 and December 31, 2013.
	Mortgage Repurchase Facility. HomeAmerican has a Master Repurchase Agreement, (the “Mortgage Repurchase Facility”), with U.S. Bank National Association (“USBNA”). This agreement was amended on September 20, 2013 and extended until September 19, 2014. The Mortgage Repurchase Facility provides liquidity to HomeAmerican by providing for the sale of eligible mortgage loans to USBNA with an agreement by HomeAmerican to repurchase the mortgage loans at a future date. Until such mortgage loans are transferred back to HomeAmerican, the documents relating to such loans are held by USBNA, as custodian, pursuant to the Custody Agreement (“Custody Agreement”), dated as of November 12, 2008, by and between HomeAmerican and USBNA. The Mortgage Repurchase Facility, which had a temporary increase in the maximum aggregate commitment from $50 million to $80 million from December 31, 2013 through January 30, 2014, had a maximum aggregate commitment of $50 million as of March 31, 2014. At March 31, 2014 and December 31, 2013, we had $39.3 million and $63.1 million, respectively, of mortgage loans that we were obligated to repurchase under our Mortgage Repurchase Facility. Mortgage loans that we are obligated to repurchase under the Mortgage Repurchase Facility are accounted for as a debt financing arrangement and are reported as mortgage repurchase facility in the consolidated balance sheets. Advances under the Mortgage Repurchase Facility carry a Pricing Rate equal to the greater of (i) the LIBOR Rate (as defined in the Mortgage Repurchase Facility) plus 2.75%, or (ii) 3.00%. The Mortgage Repurchase Facility contains various representations, warranties and affirmative and negative covenants that we believe are customary for agreements of this type. The negative covenants include, among others, (i) a minimum Adjusted Tangible Net Worth requirement, (ii) a maximum Adjusted Tangible Net Worth Ratio, (iii) a minimum Adjusted Net Income requirement, and (iv) a minimum Liquidity requirement. The foregoing terms are defined in the Mortgage Repurchase Facility. We believe we were in compliance with the representations, warranties and covenants included in the Mortgage Repurchase Facility as of March 31, 2014.

Note_19_Supplemental_Guarantor

Note 19 - Supplemental Guarantor Information	3 Months Ended
	Mar. 31, 2014
Supplemental Guarantor Information [Abstract]	'
Supplemental Guarantor Information [Text Block]	'
	19	Supplemental Guarantor Information
	Our senior notes are fully and unconditionally guaranteed on an unsecured basis, jointly and severally, by the following subsidiaries (collectively, the "Guarantor Subsidiaries"), which are 100%-owned subsidiaries of the Company.
		●	M.D.C. Land Corporation
		●	RAH of Florida, Inc.
		●	Richmond American Construction, Inc.
		●	Richmond American Homes of Arizona, Inc.
		●	Richmond American Homes of Colorado, Inc.
		●	Richmond American Homes of Delaware, Inc.
		●	Richmond American Homes of Florida, LP
		●	Richmond American Homes of Illinois, Inc.
		●	Richmond American Homes of Maryland, Inc.
		●	Richmond American Homes of Nevada, Inc.
		●	Richmond American Homes of New Jersey, Inc.
		●	Richmond American Homes of Pennsylvania, Inc.
		●	Richmond American Homes of Utah, Inc.
		●	Richmond American Homes of Virginia, Inc.
		●	Richmond American Homes of Washington, Inc.
	The senior note indentures do not provide for a suspension of the guarantees, but do provide that any Guarantor may be released from its guarantee so long as (1) no default or event of default exists or would result from release of such guarantee, (2) the Guarantor being released has consolidated net worth of less than 5% of the Company’s consolidated net worth as of the end of the most recent fiscal quarter, (3) the Guarantors released from their guarantees in any year-end period comprise in the aggregate less than 10% (or 15% if and to the extent necessary to permit the cure of a default) of the Company’s consolidated net worth as of the end of the most recent fiscal quarter, (4) such release would not have a material adverse effect on the homebuilding business of the Company and its subsidiaries and (5) the Guarantor is released from its guarantee(s) under all Specified Indebtedness (other than by reason of payment under its guarantee of Specified Indebtedness). Upon delivery of an officers’ certificate and an opinion of counsel stating that all conditions precedent provided for in the indenture relating to such transactions have been complied with and the release is authorized, the guarantee will be automatically and unconditionally released. “Specified Indebtedness” means indebtedness under the senior notes, the Company’s Indenture dated as of December 3, 2002, the Revolving Credit Facility, and any refinancing, extension, renewal or replacement of any of the foregoing.
	We have determined that separate, full financial statements of the Guarantor Subsidiaries would not be material to investors and, accordingly, supplemental financial information for the Guarantor and Non-Guarantor Subsidiaries is presented below.
	Supplemental Condensed Combining Balance Sheet
			31-Mar-14
			MDC			Guarantor			Non-			Eliminating			Consolidated
						Subsidiaries			Guarantor			Entries			MDC
									Subsidiaries
			Dollars in thousands
	ASSETS
	Homebuilding:
	Cash and cash equivalents		$	65,504		$	3,393		$	-		$	-		$	68,897
	Marketable securities			508,744			-			-			-			508,744
	Restricted cash			-			1,505			-			-			1,505
	Trade Receivables			8,844			23,641			-			(2,351	)		30,134
	Inventories:
	Housing completed or under construction			-			712,069			-			-			712,069
	Land and land under development			-			838,703			-			-			838,703
	Total inventories			-			1,550,772			-			-			1,550,772
	Intercompany receivables			1,394,954			2,858			5,827			(1,403,639	)		-
	Investment in subsidiaries			201,913			-			-			(201,913	)		-
	Deferred tax asset			170,884			-			-			3,122			174,006
	Metropolitan district bond securities (related party)			13,027			-			-			-			13,027
	Other assets, net			41,882			51,153			-			-			93,035
	Total Homebuilding Assets			2,405,752			1,633,322			5,827			(1,604,781	)		2,440,120
	Financial Services:
	Cash and cash equivalents			-			-			25,922			-			25,922
	Marketable securities			-			-			15,870			-			15,870
	Intercompany receivables			-			-			39,963			(39,963	)		-
	Mortgage loans held-for-sale, net			-			-			64,800			-			64,800
	Other assets, net			-			-			6,647			(3,122	)		3,525
	Total Financial Services Assets			-			-			153,202			(43,085	)		110,117
	Total Assets		$	2,405,752		$	1,633,322		$	159,029		$	(1,647,866	)	$	2,550,237
	LIABILITIES AND EQUITY
	Homebuilding:
	Accounts payable		$	-		$	31,591		$	-		$	-		$	31,591
	Accrued liabilities			51,457			66,285			59			723			118,524
	Advances and notes payable to parent and subsidiaries			48,648			1,368,142			23,791			(1,440,581	)		-
	Senior notes, net			1,095,958			-			-			-			1,095,958
	Total Homebuilding Liabilities			1,196,063			1,466,018			23,850			(1,439,858	)		1,246,073
	Financial Services:
	Accounts payable and other liabilities			-			-			58,209			(3,074	)		55,135
	Advances and notes payable to parent and subsidiaries			-			-			3,021			(3,021	)		-
	Mortgage repurchase facility			-			-			39,340			-			39,340
	Total Financial Services Liabilities			-			-			100,570			(6,095	)		94,475
	Total Liabilities			1,196,063			1,466,018			124,420			(1,445,953	)		1,340,548
	Equity:
Total Stockholders' Equity			1,209,689			167,304			34,609			(201,913	)		1,209,689
Total Liabilities and Stockholders' Equity		$	2,405,752		$	1,633,322		$	159,029		$	(1,647,866	)	$	2,550,237
Supplemental Condensed Combining Balance Sheet
		31-Dec-13
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
ASSETS
Homebuilding:
Cash and cash equivalents		$	145,180		$	3,454		$	-		$	-		$	148,634
Marketable securities			569,021			-			-			-			569,021
Restricted cash			-			2,195			-			-			2,195
Trade Receivables			915			27,951			-			(5,459	)		23,407
Inventories:
Housing completed or under construction			-			636,700			-			-			636,700
Land and land under development			-			774,961			-			-			774,961
Total inventories			-			1,411,661			-			-			1,411,661
Intercompany receivables			1,144,292			2,576			1,899			(1,148,767	)		-
Investment in subsidiaries			335,870			-			-			(335,870	)		-
Deferred tax asset			172,975			-			-			3,287			176,262
Other assets, net			53,933			43,569			-			-			97,502
Total Homebuilding Assets			2,422,186			1,491,406			1,899			(1,486,809	)		2,428,682
Financial Services:
Cash and cash equivalents			-			-			50,704			-			50,704
Marketable securities			-			-			19,046			-			19,046
Intercompany receivables			-			-			11,216			(11,216	)		-
Mortgage loans held-for-sale, net			-			-			92,578			-			92,578
Other assets, net			-			-			7,726			(3,287	)		4,439
Total Financial Services Assets			-			-			181,270			(14,503	)		166,767
Total Assets		$	2,422,186		$	1,491,406		$	183,169		$	(1,501,312	)	$	2,595,449
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable		$	13		$	15,033		$	-		$	-		$	15,046
Accrued liabilities			97,612			56,334			82			(1,207	)		152,821
Intercompany payables			15,692			1,121,581			19,668			(1,156,941	)		-
Senior notes, net			1,095,620			-			-			-			1,095,620
Total Homebuilding Liabilities			1,208,937			1,192,948			19,750			(1,158,148	)		1,263,487
Financial Services:
Accounts payable and other liabilities			-			-			59,891			(4,252	)		55,639
Intercompany payables			-			-			3,042			(3,042	)		-
Mortgage repurchase facility			-			-			63,074			-			63,074
Total Financial Services Liabilities			-			-			126,007			(7,294	)		118,713
Total Liabilities			1,208,937			1,192,948			145,757			(1,165,442	)		1,382,200
Equity:
Total Stockholders' Equity			1,213,249			298,458			37,412			(335,870	)		1,213,249
Total Liabilities and Stockholders' Equity		$	2,422,186		$	1,491,406		$	183,169		$	(1,501,312	)	$	2,595,449
Supplemental Condensed Combining Statement of Operations
		Three Months Ended March 31, 2014
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
Homebuilding:
Revenues		$	-		$	318,534		$	-		$	-		$	318,534
Cost of Sales			-			(259,478	)		-			-			(259,478	)
Gross margin			-			59,056			-			-			59,056
Selling, general, and administrative expenses			(12,077	)		(36,109	)		-			(155	)		(48,341	)
Equity income of subsidiaries			17,073			-			-			(17,073	)		-
Interest and other income			13,227			329			3			(10	)		13,549
Interest expense			(685	)		-			-			-			(685	)
Other expense			(2	)		(612	)		-			-			(614	)
Loss on extinguishment of debt			(9,412	)		-			-			-			(9,412	)
Homebuilding pretax income (loss)			8,124			22,664			3			(17,238	)		13,553
Financial Services:
Financial services pretax income			-			-			4,922			165			5,087
Income before income taxes			8,124			22,664			4,925			(17,073	)		18,640
(Provision) benefit for income taxes			3,380			(8,677	)		(1,839	)		-			(7,136	)
Net income		$	11,504		$	13,987		$	3,086		$	(17,073	)	$	11,504
Other comprehensive income related to available for sale securities, net of tax			(4,046	)		-			62			(62	)		(4,046	)
Comprehensive income		$	7,458		$	13,987		$	3,148		$	(17,135	)	$	7,458
Supplemental Condensed Combining Statement of Operations
		Three Months Ended March 31, 2013
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
Homebuilding:
Revenues		$	-		$	332,996		$	-		$	(1,248	)	$	331,748
Cost of Sales			-			(275,324	)		-			1,248			(274,076	)
Gross margin			-			57,672			-			-			57,672
Selling, general, and administrative expenses			(15,579	)		(32,546	)		-			(76	)		(48,201	)
Equity income of subsidiaries			29,829			-			-			(29,829	)		-
Interest and other income			6,193			356			-			-			6,549
Interest expense			(817	)		-			-			-			(817	)
Other expense			(3	)		(353	)		-			-			(356	)
Homebuilding pretax income (loss)			19,623			25,129			-			(29,905	)		14,847
Financial Services:
Financial services pretax income			-			-			7,663			76			7,739
Income before income taxes			19,623			25,129			7,663			(29,829	)		22,586
(Provision) benefit for income taxes			2,893			(78	)		(2,885	)		-			(70	)
Net income		$	22,516		$	25,051		$	4,778		$	(29,829	)	$	22,516
Other comprehensive income related to available for sale securities, net of tax			2,535			-			(96	)		96			2,535
Comprehensive income		$	25,051		$	25,051		$	4,682		$	(29,733	)	$	25,051
Supplemental Condensed Combining Statement of Cash Flows
		Three Months Ended March 31, 2014
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
Net cash provided by (used in) operating activities		$	(43,521	)	$	(101,004	)	$	30,277		$	-		$	(114,248	)
Net cash provided by (used in) investing activities			(13,276	)		(80	)		3,187			66,511			56,342
Financing activities:
Payments from (advances to) subsidiaries			-			101,023			(34,512	)		(66,511	)		-
Mortgage repurchase facility			-			-			(23,734	)		-			(23,734	)
Proceeds from issuance of senior notes			248,375			-			-			-			248,375
Repayment of senior notes			(259,118	)		-			-			-			(259,118	)
Dividend payments			(12,207	)		-			-			-			(12,207	)
Proceeds from the exercise of stock options			71			-			-			-			71
Net cash provided by (used in) financing activities			(22,879	)		101,023			(58,246	)		(66,511	)		(46,613	)
Net increase in cash and cash equivalents			(79,676	)		(61	)		(24,782	)		-			(104,519	)
Cash and cash equivalents:
Beginning of period			145,180			3,454			50,704			-			199,338
End of period		$	65,504		$	3,393		$	25,922		$	-		$	94,819
Supplemental Condensed Combining Statement of Cash Flows
		Three Months Ended March 31, 2013
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
Net cash provided by (used in) operating activities		$	(7,369	)	$	(151,915	)	$	103,866		$	-		$	(55,418	)
Net cash used in investing activities			(192,538	)		(571	)		(909	)		86,949			(107,069	)
Financing activities:
Payments from (advances to) subsidiaries			-			153,486			(66,537	)		(86,949	)		-
Mortgage repurchase facility			-			-			(34,859	)		-			(34,859	)
Proceeds from the issuance of senior notes			247,813			-			-			-			247,813
Proceeds from the exercise of stock options			5,118			-			-			-			5,118
Net cash provided by (used in) financing activities			252,931			153,486			(101,396	)		(86,949	)		218,072
Net increase (decrease) in cash and cash equivalents			53,024			1,000			1,561			-			55,585
Cash and cash equivalents:
Beginning of period			125,904			3,308			30,883			-			160,095
End of period		$	178,928		$	4,308		$	32,444		$	-		$	215,680

Note_2_Segment_Reporting_Table

Note 2 - Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2014
Segment Reporting [Abstract]	'
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Homebuilding
	West	$	136,422		$	134,979
	Mountain		100,945			133,377
	East		81,167			63,392
	Total home sale revenues	$	318,534		$	331,748
	Financial Services
	Mortgage operations	$	5,119		$	9,044
	Other		4,104			3,462
	Total financial services revenues	$	9,223		$	12,506
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Homebuilding
	West	$	12,650		$	10,611
	Mountain		7,359			12,996
	East		2,661			1,528
	Corporate		(9,117	)		(10,288	)
	Total homebuilding pretax income	$	13,553		$	14,847
	Financial Services
	Mortgage operations	$	2,559		$	5,999
	Other		2,528			1,740
	Total financial services pretax income	$	5,087		$	7,739
	Total pretax income	$	18,640		$	22,586
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	'
		March 31,			December 31,
		2014			2013
		(Dollars in thousands)
	Homebuilding assets
	West	$	837,792		$	760,450
	Mountain		467,630			418,796
	East		325,042			297,627
	Corporate		809,656			951,809
	Total homebuilding assets	$	2,440,120		$	2,428,682
	Financial services assets
	Mortgage operations	$	70,848		$	99,065
	Other		39,269			67,702
	Total financial services assets	$	110,117		$	166,767
	Total assets	$	2,550,237		$	2,595,449

Note_3_Earnings_Loss_Per_Share1

Note 3 - Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2014
Earnings per share: [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands, except per share amounts)
	Numerator
	Net income	$	11,504		$	22,516
	Less: distributed earnings allocated to participating securities		(52	)		-
	Less: undistributed earnings allocated to participating securities		-			(375	)
	Net income attributable to common stockholders (numerator for basic earnings per share)		11,452			22,141
	Add back: undistributed earnings allocated to participating securities		-			375
	Less: undistributed earnings reallocated to participating securities		-			(370	)
	Numerator for diluted earnings per share under two class method	$	11,452		$	22,146
	Denominator
	Weighted-average common shares outstanding		48,585,757			48,342,145
	Add: dilutive effect of stock options		268,918			580,190
	Denominator for diluted earnings per share under two class method		48,854,675			48,922,335
	Basic Earnings Per Common Share	$	0.24		$	0.46
	Diluted Earnings Per Common Share	$	0.23		$	0.45

Note_4_Accumulated_Other_Compr1

Note 4 - Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Unrealized gains (losses) on available-for-sale marketable securities (1) :
	Beginning balance	$	7,655		$	4,838
	Other comprehensive income (loss) before reclassifications		(33	)		2,221
	Amounts reclassified from accumulated other comprehensive income (2)		(4,013	)		314
	Ending balance	$	3,609		$	7,373
	Unrealized gains on available-for-sale metropolitan district bond securities (1) :
	Beginning balance	$	3,920		$	-
	Other comprehensive income before reclassifications		-			-
	Amounts reclassified from accumulated other comprehensive income		-			-
	Ending balance	$	3,920		$	-
	Total ending accumulated other comprehensive income	$	7,529		$	7,373
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]	'
		Three Months Ended
		March 31,
	Affected Line Item in the Statements of Operations	2014			2013
		(Dollars in thousands)
	Homebuilding interest and other income	$	6,537		$	(295	)
	Financial services interest and other income		(12	)		(19	)
	Income before income taxes		6,525			(314	)
	Provision for income taxes		(2,512	)		-
	Net income	$	4,013		$	(314	)

Note_5_Fair_Value_Measurements1

Note 5 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2014
Fair Value Disclosures [Abstract]	'
Fair Value, Assets Measured on Recurring Basis [Table Text Block]	'
					Fair Value
	Financial Instrument	Hierarchy			March 31,				December 31,
					2014				2013
					(Dollars in thousands)
	Marketable securities (available-for-sale)
	Equity securities	Level 1			$	459,314			$	389,323
	Debt securities - maturity less than 1 year	Level 2				14,053				72,577
	Debt securities - maturity 1 to 5 years	Level 2				34,653				106,566
	Debt securities - maturity greater than 5 years	Level 2				16,594				19,601
	Total available-for-sale securities				$	524,614			$	588,067
	Mortgage loans held-for-sale, net	Level 2			$	64,800			$	92,578
	Metropolitan district bond securities (related party) (available-for-sale)	Level 3			$	13,027			$	12,729
Available-for-sale Securities [Table Text Block]	'
		31-Mar-14							31-Dec-13
		Amortized			Fair Value				Amortized		Fair Value
		Cost							Cost
		(Dollars in thousands)
	Homebuilding:
	Equity securities	$	450,095		$	455,214			$	375,142	$	385,303
	Debt securities		53,125			53,530				181,635		183,718
	Total homebuilding available-for-sale securities	$	503,220		$	508,744			$	556,777	$	569,021
	Financial Services:
	Equity securities	$	4,000		$	4,100			$	4,000	$	4,020
	Debt securities		11,482			11,770				14,721		15,026
	Total financial services available-for-sale debt securities	$	15,482		$	15,870			$	18,721	$	19,046
	Total available-for-sale marketable securities	$	518,702		$	524,614			$	575,498	$	588,067
Schedule of Unrealized Loss on Investments [Table Text Block]	'
		31-Mar-14									31-Dec-13
		Number of Securities in Loss Position			Aggregate Loss Position				Aggregate Fair Value of Securities in a Loss Position		Number of Securities in Loss Position		Aggregate Loss Position			Aggregate Fair Value of Securities in a Loss Position
		(Dollars in thousands)
	Type of Investment
	Debt		39		$	(211	)		$	26,628		72	$	(430	)	$	46,440
	Equity		6			(1,052	)			202,183		7		(713	)		14,174
	Total		45		$	(1,263	)		$	228,811		79	$	(1,143	)	$	60,614
Realized Gain (Loss) on Investments [Table Text Block]	'
		Three Months Ended March 31,
		2014			2013
		(Dollars in thousands)
	Gross realized gains on sales of available-for-sale securities
	Equity securities	$	5,431		$	-
	Debt securities		1,261			46
	Total	$	6,692		$	46
	Gross realized losses on sales of available-for-sale securities
	Equity securities	$	(154	)	$	-
	Debt securities		(12	)		(404	)
	Total	$	(166	)	$	(404	)
	Net realized gain (loss) on sales of available-for-sale securities	$	6,526		$	(358	)
Fair Value Inputs, Assets, Quantitative Information [Table Text Block]	'
		Quantitative Data						Sensitivity Analysis
	Unobservable Input	Range			Weighted Average			Movement in		Movement in
								Fair Value from		Fair Value from
								Increase in Input		Decrease in Input
	Number of homes closed per year	0 to 155				88		Increase		Decrease
	Discount rate	6% to 16%				10	%	Decrease		Increase
Schedule Of Principal Amounts And Fair Values Of Debt Instruments [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Balance at beginning of period	$	12,729		$	5,818
	Increase in fair value (recorded in other comprehensive income)		-			-
	Change due to accretion of principal		298			-
	Cash receipts		-			-
	Balance at end of period	$	13,027		$	5,818
Fair Value Of Senior Notes Table [Text Block]	'
		31-Mar-14							31-Dec-13
		Carrying			Fair Value				Carrying		Fair Value
		Amount							Amount
		(Dollars in thousands)
	5⅜% Senior Notes due December 2014, net		-			-				249,814		258,750
	5⅜% Senior Notes due July 2015, net		249,946			260,313				249,935		262,562
	5⅝% Senior Notes due February 2020, net		246,012			266,250				245,871		259,688
	5½% Senior Notes due January 2024, net		250,000			255,313				-		-
	6% Senior Notes due January 2043		350,000			309,750				350,000		305,083
	Total	$	1,095,958		$	1,091,626			$	1,095,620	$	1,086,083

Note_6_Inventories_Tables

Note 6 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2014
Inventory Disclosure [Abstract]	'
Schedule Of Inventory Table [Text Block]	'
		March 31,		December 31,
		2014		2013
		(Dollars in thousands)
	Housing Completed or Under Construction:
	West	$	313,078	$	270,778
	Mountain		225,403		194,101
	East		173,588		171,821
	Subtotal		712,069		636,700
	Land and Land Under Development:
	West		492,603		459,512
	Mountain		219,944		211,526
	East		126,156		103,923
	Subtotal		838,703		774,961
	Total Inventories	$	1,550,772	$	1,411,661

Note_7_Capitalization_of_Inter1

Note 7 - Capitalization of Interest (Tables)	3 Months Ended
	Mar. 31, 2014
Capitalization Disclosure [Abstract]	'
Capitalization Of Interest [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Homebuilding interest incurred	$	19,182		$	14,339
	Less: Interest capitalized		(18,497	)		(13,522	)
	Homebuilding interest expensed	$	685		$	817
	Interest capitalized, beginning of period	$	74,155		$	69,143
	Interest capitalized during period		18,497			13,522
	Less: Previously capitalized interest included in home cost of sales		(11,724	)		(9,874	)
	Interest capitalized, end of period	$	80,928		$	72,791

Note_8_Homebuilding_Prepaid_Ex1

Note 8 - Homebuilding Prepaid Expenses and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block Supplement [Abstract]	'
Schedule of Other Assets [Table Text Block]	'
		March 31,		December 31,
		2014		2013
		(Dollars in thousands)
	Land option deposits	$	17,908	$	15,221
	Deferred marketing costs		20,272		15,830
	Prepaid expenses		4,260		4,349
	Goodwill		6,008		6,008
	Deferred debt issuance costs, net		13,047		11,527
	Other		643		590
	Total	$	62,138	$	53,525

Note_9_Homebuilding_Accrued_Li1

Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2014
Payables and Accruals [Abstract]	'
Schedule of Accrued Liabilities [Table Text Block]	'
		March 31,		December 31,
		2014		2013
		(Dollars in thousands)
	Accrued compensation and related expenses	$	12,127	$	35,990
	Accrued executive deferred compensation		30,796		30,796
	Accrued interest		14,391		24,198
	Warranty reserves		21,447		22,238
	Customer and escrow deposits		11,758		10,759
	Land development and home construction accruals		8,168		9,592
	Other accrued liabilities		19,837		19,248
	Total accrued liabilities	$	118,524	$	152,821
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	'
		March 31,		December 31,
		2014		2013
		(Dollars in thousands)
	Insurance reserves	$	49,076	$	49,637
	Accounts payable and other accrued liabilities		6,059		6,002
	Total accounts payable and accrued liabilities	$	55,135	$	55,639

Note_10_Warranty_Accrual_Table

Note 10 - Warranty Accrual (Tables)	3 Months Ended
	Mar. 31, 2014
Product Warranties Disclosures [Abstract]	'
Schedule of Product Warranty Liability [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Balance at beginning of period	$	22,238		$	23,151
	Expense provisions		991			1,122
	Cash payments		(982	)		(1,475	)
	Adjustments		(800	)		300
	Balance at end of period	$	21,447		$	23,098

Note_11_Insurance_Reserves_Tab

Note 11 - Insurance Reserves (Tables)	3 Months Ended
	Mar. 31, 2014
Insurance Loss Reserves [Abstract]	'
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Balance at beginning of period	$	49,637		$	47,852
	Expense provisions		1,310			1,527
	Cash payments, net of recoveries		(1,871	)		(430	)
	Balance at end of period	$	49,076		$	48,949

Note_13_Income_Taxes_Tables

Note 13 - Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
		March 31,			December 31,
		2014			2013
		(Dollars in thousands)
	Deferred tax assets:
	Federal net operating loss carryforwards	$	75,706		$	72,915
	State net operating loss carryforwards		42,909			40,227
	Alternative minimum tax and other tax credit carryforwards		24,196			24,196
	Stock-based compensation expense		25,443			26,651
	Warranty, litigation and other reserves		15,313			15,543
	Accrued compensation		1,823			11,136
	Asset impairment charges		4,965			5,889
	Inventory, additional costs capitalized for tax purposes		7,021			7,064
	Other, net		3,986			3,446
	Total deferred tax assets		201,362			207,067
	Valuation allowance		(8,201	)		(8,201	)
	Total deferred tax assets, net of valuation allowance		193,161			198,866
	Deferred tax liabilities:
	Property, equipment and other assets		5,422			5,512
	Discount on notes receivable		4,204			4,204
	Deferred revenue		3,110			3,985
	Unrealized gain on marketable securities		4,754			7,368
	Other, net		1,665			1,535
	Total deferred tax liabilities		19,155			22,604
	Net deferred tax asset	$	174,006		$	176,262

Note_14_Senior_Notes_Tables

Note 14 - Senior Notes (Tables)	3 Months Ended
	Mar. 31, 2014
Disclosure Text Block [Abstract]	'
Schedule of Debt [Table Text Block]	'
		March 31,		December 31,
		2014		2013
		(Dollars in thousands)
	5⅜% Senior Notes due December 2014, net	$	-	$	249,814
	5⅜% Senior Notes due July 2015, net		249,946		249,935
	5⅝% Senior Notes due February 2020, net		246,012		245,871
	5½% Senior Notes due January 2024, net		250,000		-
	6% Senior Notes due January 2043		350,000		350,000
	Total	$	1,095,958	$	1,095,620

Note_16_Commitments_and_Contin1

Note 16 - Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Schedule Of Mortgage Loan Loss Reserve Activity [Table Text Block]	'
		Three Months Ended
		March 31,
		2014			2013
		(Dollars in thousands)
	Balance at beginning of period	$	1,370		$	805
	Expense provisions		-			250
	Cash payments		-			(86	)
	Adjustments		(497	)		-
	Balance at end of period	$	873		$	969

Note_19_Supplemental_Guarantor1

Note 19 - Supplemental Guarantor Information (Tables)	3 Months Ended
	Mar. 31, 2014
Supplemental Guarantor Information [Abstract]	'
Condensed Balance Sheet [Table Text Block]	'
		31-Mar-14
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		Dollars in thousands
	ASSETS
	Homebuilding:
	Cash and cash equivalents	$	65,504		$	3,393		$	-		$	-		$	68,897
	Marketable securities		508,744			-			-			-			508,744
	Restricted cash		-			1,505			-			-			1,505
	Trade Receivables		8,844			23,641			-			(2,351	)		30,134
	Inventories:
	Housing completed or under construction		-			712,069			-			-			712,069
	Land and land under development		-			838,703			-			-			838,703
	Total inventories		-			1,550,772			-			-			1,550,772
	Intercompany receivables		1,394,954			2,858			5,827			(1,403,639	)		-
	Investment in subsidiaries		201,913			-			-			(201,913	)		-
	Deferred tax asset		170,884			-			-			3,122			174,006
	Metropolitan district bond securities (related party)		13,027			-			-			-			13,027
	Other assets, net		41,882			51,153			-			-			93,035
	Total Homebuilding Assets		2,405,752			1,633,322			5,827			(1,604,781	)		2,440,120
	Financial Services:
	Cash and cash equivalents		-			-			25,922			-			25,922
	Marketable securities		-			-			15,870			-			15,870
	Intercompany receivables		-			-			39,963			(39,963	)		-
	Mortgage loans held-for-sale, net		-			-			64,800			-			64,800
	Other assets, net		-			-			6,647			(3,122	)		3,525
	Total Financial Services Assets		-			-			153,202			(43,085	)		110,117
	Total Assets	$	2,405,752		$	1,633,322		$	159,029		$	(1,647,866	)	$	2,550,237
	LIABILITIES AND EQUITY
	Homebuilding:
	Accounts payable	$	-		$	31,591		$	-		$	-		$	31,591
	Accrued liabilities		51,457			66,285			59			723			118,524
	Advances and notes payable to parent and subsidiaries		48,648			1,368,142			23,791			(1,440,581	)		-
	Senior notes, net		1,095,958			-			-			-			1,095,958
	Total Homebuilding Liabilities		1,196,063			1,466,018			23,850			(1,439,858	)		1,246,073
	Financial Services:
	Accounts payable and other liabilities		-			-			58,209			(3,074	)		55,135
	Advances and notes payable to parent and subsidiaries		-			-			3,021			(3,021	)		-
	Mortgage repurchase facility		-			-			39,340			-			39,340
	Total Financial Services Liabilities		-			-			100,570			(6,095	)		94,475
	Total Liabilities		1,196,063			1,466,018			124,420			(1,445,953	)		1,340,548
	Equity:
	Total Stockholders' Equity		1,209,689			167,304			34,609			(201,913	)		1,209,689
	Total Liabilities and Stockholders' Equity	$	2,405,752		$	1,633,322		$	159,029		$	(1,647,866	)	$	2,550,237
		31-Dec-13
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
	ASSETS
	Homebuilding:
	Cash and cash equivalents	$	145,180		$	3,454		$	-		$	-		$	148,634
	Marketable securities		569,021			-			-			-			569,021
	Restricted cash		-			2,195			-			-			2,195
	Trade Receivables		915			27,951			-			(5,459	)		23,407
	Inventories:
	Housing completed or under construction		-			636,700			-			-			636,700
	Land and land under development		-			774,961			-			-			774,961
	Total inventories		-			1,411,661			-			-			1,411,661
	Intercompany receivables		1,144,292			2,576			1,899			(1,148,767	)		-
	Investment in subsidiaries		335,870			-			-			(335,870	)		-
	Deferred tax asset		172,975			-			-			3,287			176,262
Other assets, net		53,933			43,569			-			-			97,502
Total Homebuilding Assets		2,422,186			1,491,406			1,899			(1,486,809	)		2,428,682
Financial Services:
Cash and cash equivalents		-			-			50,704			-			50,704
Marketable securities		-			-			19,046			-			19,046
Intercompany receivables		-			-			11,216			(11,216	)		-
Mortgage loans held-for-sale, net		-			-			92,578			-			92,578
Other assets, net		-			-			7,726			(3,287	)		4,439
Total Financial Services Assets		-			-			181,270			(14,503	)		166,767
Total Assets	$	2,422,186		$	1,491,406		$	183,169		$	(1,501,312	)	$	2,595,449
LIABILITIES AND EQUITY
Homebuilding:
Accounts payable	$	13		$	15,033		$	-		$	-		$	15,046
Accrued liabilities		97,612			56,334			82			(1,207	)		152,821
Intercompany payables		15,692			1,121,581			19,668			(1,156,941	)		-
Senior notes, net		1,095,620			-			-			-			1,095,620
Total Homebuilding Liabilities		1,208,937			1,192,948			19,750			(1,158,148	)		1,263,487
Financial Services:
Accounts payable and other liabilities		-			-			59,891			(4,252	)		55,639
Intercompany payables		-			-			3,042			(3,042	)		-
Mortgage repurchase facility		-			-			63,074			-			63,074
Total Financial Services Liabilities		-			-			126,007			(7,294	)		118,713
Total Liabilities		1,208,937			1,192,948			145,757			(1,165,442	)		1,382,200
Equity:
Total Stockholders' Equity		1,213,249			298,458			37,412			(335,870	)		1,213,249
Total Liabilities and Stockholders' Equity	$	2,422,186		$	1,491,406		$	183,169		$	(1,501,312	)	$	2,595,449
Condensed Income Statement [Table Text Block]	'
		Three Months Ended March 31, 2014
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
	Homebuilding:
	Revenues	$	-		$	318,534		$	-		$	-		$	318,534
	Cost of Sales		-			(259,478	)		-			-			(259,478	)
	Gross margin		-			59,056			-			-			59,056
	Selling, general, and administrative expenses		(12,077	)		(36,109	)		-			(155	)		(48,341	)
	Equity income of subsidiaries		17,073			-			-			(17,073	)		-
	Interest and other income		13,227			329			3			(10	)		13,549
	Interest expense		(685	)		-			-			-			(685	)
	Other expense		(2	)		(612	)		-			-			(614	)
	Loss on extinguishment of debt		(9,412	)		-			-			-			(9,412	)
	Homebuilding pretax income (loss)		8,124			22,664			3			(17,238	)		13,553
	Financial Services:
	Financial services pretax income		-			-			4,922			165			5,087
	Income before income taxes		8,124			22,664			4,925			(17,073	)		18,640
	(Provision) benefit for income taxes		3,380			(8,677	)		(1,839	)		-			(7,136	)
	Net income	$	11,504		$	13,987		$	3,086		$	(17,073	)	$	11,504
	Other comprehensive income related to available for sale securities, net of tax		(4,046	)		-			62			(62	)		(4,046	)
	Comprehensive income	$	7,458		$	13,987		$	3,148		$	(17,135	)	$	7,458
		Three Months Ended March 31, 2013
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
	Homebuilding:
	Revenues	$	-		$	332,996		$	-		$	(1,248	)	$	331,748
	Cost of Sales		-			(275,324	)		-			1,248			(274,076	)
	Gross margin		-			57,672			-			-			57,672
	Selling, general, and administrative expenses		(15,579	)		(32,546	)		-			(76	)		(48,201	)
	Equity income of subsidiaries		29,829			-			-			(29,829	)		-
	Interest and other income		6,193			356			-			-			6,549
	Interest expense		(817	)		-			-			-			(817	)
	Other expense		(3	)		(353	)		-			-			(356	)
	Homebuilding pretax income (loss)		19,623			25,129			-			(29,905	)		14,847
	Financial Services:
	Financial services pretax income		-			-			7,663			76			7,739
	Income before income taxes		19,623			25,129			7,663			(29,829	)		22,586
	(Provision) benefit for income taxes		2,893			(78	)		(2,885	)		-			(70	)
	Net income	$	22,516		$	25,051		$	4,778		$	(29,829	)	$	22,516
	Other comprehensive income related to available for sale securities, net of tax		2,535			-			(96	)		96			2,535
	Comprehensive income	$	25,051		$	25,051		$	4,682		$	(29,733	)	$	25,051
Condensed Cash Flow Statement [Table Text Block]	'
		Three Months Ended March 31, 2014
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
	Net cash provided by (used in) operating activities	$	(43,521	)	$	(101,004	)	$	30,277		$	-		$	(114,248	)
	Net cash provided by (used in) investing activities		(13,276	)		(80	)		3,187			66,511			56,342
	Financing activities:
	Payments from (advances to) subsidiaries		-			101,023			(34,512	)		(66,511	)		-
	Mortgage repurchase facility		-			-			(23,734	)		-			(23,734	)
	Proceeds from issuance of senior notes		248,375			-			-			-			248,375
	Repayment of senior notes		(259,118	)		-			-			-			(259,118	)
	Dividend payments		(12,207	)		-			-			-			(12,207	)
	Proceeds from the exercise of stock options		71			-			-			-			71
	Net cash provided by (used in) financing activities		(22,879	)		101,023			(58,246	)		(66,511	)		(46,613	)
	Net increase in cash and cash equivalents		(79,676	)		(61	)		(24,782	)		-			(104,519	)
	Cash and cash equivalents:
	Beginning of period		145,180			3,454			50,704			-			199,338
	End of period	$	65,504		$	3,393		$	25,922		$	-		$	94,819
		Three Months Ended March 31, 2013
		MDC			Guarantor			Non-			Eliminating			Consolidated
					Subsidiaries			Guarantor			Entries			MDC
								Subsidiaries
		(Dollars in thousands)
	Net cash provided by (used in) operating activities	$	(7,369	)	$	(151,915	)	$	103,866		$	-		$	(55,418	)
	Net cash used in investing activities		(192,538	)		(571	)		(909	)		86,949			(107,069	)
	Financing activities:
	Payments from (advances to) subsidiaries		-			153,486			(66,537	)		(86,949	)		-
	Mortgage repurchase facility		-			-			(34,859	)		-			(34,859	)
	Proceeds from the issuance of senior notes		247,813			-			-			-			247,813
	Proceeds from the exercise of stock options		5,118			-			-			-			5,118
	Net cash provided by (used in) financing activities		252,931			153,486			(101,396	)		(86,949	)		218,072
	Net increase (decrease) in cash and cash equivalents		53,024			1,000			1,561			-			55,585
	Cash and cash equivalents:
	Beginning of period		125,904			3,308			30,883			-			160,095
	End of period	$	178,928		$	4,308		$	32,444		$	-		$	215,680

Note_2_Segment_Reporting_Detai

Note 2 - Segment Reporting (Details) (Other Segments [Member])	3 Months Ended
	Mar. 31, 2014
Other Segments [Member]	'
Note 2 - Segment Reporting (Details) [Line Items]	'
Number of Reportable Segments	1

Note_2_Segment_Reporting_Detai1

Note 2 - Segment Reporting (Details) - Reconciliation of Revenue from Segments to Consolidated (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Reportable Geographical Components [Member] | West [Member]	'	'
Homebuilding	'	'
Revenues	$136,422	$134,979
Reportable Geographical Components [Member] | Mountain [Member]	'	'
Homebuilding	'	'
Revenues	100,945	133,377
Reportable Geographical Components [Member] | East [Member]	'	'
Homebuilding	'	'
Revenues	81,167	63,392
Reportable Geographical Components [Member] | Mortgage Operations [Member]	'	'
Homebuilding	'	'
Revenues	5,119	9,044
Reportable Geographical Components [Member] | Other Financial Services [Member]	'	'
Homebuilding	'	'
Revenues	4,104	3,462
Homebuilding [Member]	'	'
Homebuilding	'	'
Revenues	318,534	331,748
Financial Services [Member]	'	'
Homebuilding	'	'
Revenues	$9,223	$12,506

Note_2_Segment_Reporting_Detai2

Note 2 - Segment Reporting (Details) - Reconciliation of Pretax Operating Income from Segments to Consolidated (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Homebuilding	'	'
Income before income taxes	$18,640	$22,586
Reportable Geographical Components [Member] | West [Member]	'	'
Homebuilding	'	'
Income before income taxes	12,650	10,611
Reportable Geographical Components [Member] | Mountain [Member]	'	'
Homebuilding	'	'
Income before income taxes	7,359	12,996
Reportable Geographical Components [Member] | East [Member]	'	'
Homebuilding	'	'
Income before income taxes	2,661	1,528
Reportable Geographical Components [Member] | Corporate Segment [Member]	'	'
Homebuilding	'	'
Income before income taxes	-9,117	-10,288
Reportable Geographical Components [Member] | Homebuilding [Member]	'	'
Homebuilding	'	'
Income before income taxes	13,553	14,847
Reportable Geographical Components [Member] | Mortgage Operations [Member]	'	'
Homebuilding	'	'
Income before income taxes	2,559	5,999
Reportable Geographical Components [Member] | Other Financial Services [Member]	'	'
Homebuilding	'	'
Income before income taxes	2,528	1,740
Homebuilding [Member]	'	'
Homebuilding	'	'
Income before income taxes	13,553	14,847
Financial Services [Member]	'	'
Homebuilding	'	'
Income before income taxes	$5,087	$7,739

Note_2_Segment_Reporting_Detai3

Note 2 - Segment Reporting (Details) - Total Assets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Homebuilding assets	'	'
Total Assets	$2,550,237	$2,595,449
Reportable Geographical Components [Member] | West [Member]	'	'
Homebuilding assets	'	'
Total Assets	837,792	760,450
Reportable Geographical Components [Member] | Mountain [Member]	'	'
Homebuilding assets	'	'
Total Assets	467,630	418,796
Reportable Geographical Components [Member] | East [Member]	'	'
Homebuilding assets	'	'
Total Assets	325,042	297,627
Reportable Geographical Components [Member] | Corporate Segment [Member]	'	'
Homebuilding assets	'	'
Total Assets	809,656	951,809
Reportable Geographical Components [Member] | Homebuilding [Member]	'	'
Homebuilding assets	'	'
Total Assets	2,440,120	2,428,682
Reportable Geographical Components [Member] | Mortgage Operations [Member]	'	'
Homebuilding assets	'	'
Total Assets	70,848	99,065
Reportable Geographical Components [Member] | Other Financial Services [Member]	'	'
Homebuilding assets	'	'
Total Assets	39,269	67,702
Reportable Geographical Components [Member] | Financial Services [Member]	'	'
Homebuilding assets	'	'
Total Assets	110,117	166,767
Homebuilding [Member]	'	'
Homebuilding assets	'	'
Total Assets	2,440,120	2,428,682
Financial Services [Member]	'	'
Homebuilding assets	'	'
Total Assets	$110,117	$166,767

Note_3_Earnings_Loss_Per_Share2

Note 3 - Earnings (Loss) Per Share (Details) (Equity Option [Member])	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Equity Option [Member]	'	'
Note 3 - Earnings (Loss) Per Share (Details) [Line Items]	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	3.7	2.9

Note_3_Earnings_Loss_Per_Share3

Note 3 - Earnings (Loss) Per Share (Details) - Earnings (Loss) Per Share - Basic and Diluted Loss Per Share (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Numerator	'	'
Net income	$11,504	$22,516
Less: distributed earnings allocated to participating securities	-52	'
Less: undistributed earnings allocated to participating securities	'	-375
Net income attributable to common stockholders (numerator for basic earnings per share)	11,452	22,141
Add back: undistributed earnings allocated to participating securities	'	375
Less: undistributed earnings reallocated to participating securities	'	-370
Numerator for diluted earnings per share under two class method	$11,452	$22,146
Denominator	'	'
Weighted-average common shares outstanding (in Shares)	48,585,757	48,342,145
Denominator for diluted earnings per share under two class method (in Shares)	48,854,675	48,922,335
Basic Earnings Per Common Share (in Dollars per share)	$0.24	$0.46
Diluted Earnings Per Common Share (in Dollars per share)	$0.23	$0.45
Employee Stock Option [Member]	'	'
Denominator	'	'
Add: dilutive effect of stock options (in Shares)	268,918	580,190

Note_4_Accumulated_Other_Compr2

Note 4 - Accumulated Other Comprehensive Income (Loss) (Details) - Changes in Accumulated Other Comprehensive Income (Loss) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013
In Thousands, unless otherwise specified				Metropolitan District Bond Securities [Member]	Metropolitan District Bond Securities [Member]	Accumulated Net Unrealized Investment Gain (Loss) [Member]	Accumulated Net Unrealized Investment Gain (Loss) [Member]
				Accumulated Net Unrealized Investment Gain (Loss) [Member]	Accumulated Net Unrealized Investment Gain (Loss) [Member]
Unrealized gains (losses) on available-for-sale marketable securities (1) :	'	'	'	'	'	'	'
Beginning Balance	$7,529	$11,575	$7,373	$3,920	$3,920	$7,655	$4,838
Ending Balance	7,529	11,575	7,373	3,920	3,920	3,609	7,373
Total ending accumulated other comprehensive income	7,529	11,575	7,373	3,920	3,920	3,609	7,373
Other comprehensive income (loss) before reclassifications	'	'	'	'	'	-33	2,221
Amounts reclassified from accumulated other comprehensive income (2)	'	'	'	'	'	($4,013)	$314

Note_4_Accumulated_Other_Compr3

Note 4 - Accumulated Other Comprehensive Income (Loss) (Details) - Reclassifications out of AOCI (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Income before income taxes	$18,640	$22,586
Provision for income taxes	-7,136	-70
Net income	11,504	22,516
Homebuilding [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Homebuilding interest and other income	6,537	-295
Homebuilding [Member]	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Homebuilding interest and other income	13,549	6,549
Income before income taxes	13,553	14,847
Financial Services [Member] | Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Financial services interest and other income	-12	-19
Financial Services [Member]	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Financial services interest and other income	788	875
Income before income taxes	5,087	7,739
Accumulated Net Unrealized Investment Gain (Loss) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]	'	'
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]	'	'
Income before income taxes	6,525	-314
Provision for income taxes	-2,512	'
Net income	$4,013	($314)

Note_5_Fair_Value_Measurements2

Note 5 - Fair Value Measurements (Details) (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2014
			Under Commitment To Sell [Member]	Under Commitment To Sell [Member]	Not Under Commitment To Sell [Member]	Not Under Commitment To Sell [Member]	Fair Value, Inputs, Level 2 [Member]	Fair Value, Inputs, Level 2 [Member]	Minimum [Member]
			Fair Value, Inputs, Level 2 [Member]	Fair Value, Inputs, Level 2 [Member]	Fair Value, Inputs, Level 2 [Member]	Fair Value, Inputs, Level 2 [Member]
Note 5 - Fair Value Measurements (Details) [Line Items]	'	'	'	'	'	'	'	'	'
Available-for-sale Securities, Gross Unrealized Gain (Loss) Accumulated in AOCI	$5,900,000	$12,600,000	'	'	'	'	'	'	'
Available-for-sale Securities, Gross Unrealized Loss Accumulated in AOCI	-1,300,000	-1,100,000	'	'	'	'	'	'	'
Loans Held-for-sale, Mortgages	'	'	$46,400,000	$66,100,000	$18,400,000	$26,500,000	$64,800,000	$92,578,000	'
Short Term Borrowings Maturity Period	'	'	'	'	'	'	'	'	'30 days

Note_5_Fair_Value_Measurements3

Note 5 - Fair Value Measurements (Details) - Fair Value Methods Used for Measuring Fair Values of Financial Instruments on Recurring Basis (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Marketable securities (available-for-sale)	'	'	'	'
Total available-for-sale securities	$524,614	$588,067	'	'
Metropolitan District Bond Securities [Member] | Fair Value, Inputs, Level 3 [Member]	'	'	'	'
Marketable securities (available-for-sale)	'	'	'	'
Metropolitan district bond securities (related party) (available-for-sale)	13,027	12,729	'	'
Metropolitan District Bond Securities [Member]	'	'	'	'
Marketable securities (available-for-sale)	'	'	'	'
Metropolitan district bond securities (related party) (available-for-sale)	13,027	12,729	5,818	5,818
Fair Value, Inputs, Level 1 [Member]	'	'	'	'
Marketable securities (available-for-sale)	'	'	'	'
Equity securities	459,314	389,323	'	'
Fair Value, Inputs, Level 2 [Member]	'	'	'	'
Marketable securities (available-for-sale)	'	'	'	'
Debt securities - maturity less than 1 year	14,053	72,577	'	'
Debt securities - maturity 1 to 5 years	34,653	106,566	'	'
Debt securities - maturity greater than 5 years	16,594	19,601	'	'
Mortgage loans held-for-sale, net	$64,800	$92,578	'	'

Note_5_Fair_Value_Measurements4

Note 5 - Fair Value Measurements (Details) - Amortized Cost and Estimated Fair Value of Available-for-Sale Marketable Securities (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Homebuilding:	'	'
Total available-for-sale marketable securities	$524,614	$588,067
Homebuilding [Member] | Amortized Cost [Member]	'	'
Homebuilding:	'	'
Equity security	450,095	375,142
Debt securities	53,125	181,635
Total available-for-sale marketable securities	503,220	556,777
Homebuilding [Member] | Fair Value [Member]	'	'
Homebuilding:	'	'
Equity security	455,214	385,303
Debt securities	53,530	183,718
Total available-for-sale marketable securities	508,744	569,021
Financial Services [Member] | Amortized Cost [Member]	'	'
Homebuilding:	'	'
Equity security	4,000	4,000
Debt securities	11,482	14,721
Total available-for-sale marketable securities	15,482	18,721
Financial Services [Member] | Fair Value [Member]	'	'
Homebuilding:	'	'
Equity security	4,100	4,020
Debt securities	11,770	15,026
Total available-for-sale marketable securities	15,870	19,046
Amortized Cost [Member]	'	'
Homebuilding:	'	'
Total available-for-sale marketable securities	518,702	575,498
Fair Value [Member]	'	'
Homebuilding:	'	'
Total available-for-sale marketable securities	$524,614	$588,067

Note_5_Fair_Value_Measurements5

Note 5 - Fair Value Measurements (Details) - Aggregate Fair Value of Securities in Unrealized Loss Positions (USD $)	3 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Type of Investment	'	'
Number of Securities in Loss Position	45	79
Aggregate Loss Position	($1,263)	($1,143)
Aggregate Fair Value of Securities in a Loss Position	228,811	60,614
Debt Securities [Member]	'	'
Type of Investment	'	'
Number of Securities in Loss Position	39	72
Aggregate Loss Position	-211	-430
Aggregate Fair Value of Securities in a Loss Position	26,628	46,440
Equity Securities [Member]	'	'
Type of Investment	'	'
Number of Securities in Loss Position	6	7
Aggregate Loss Position	-1,052	-713
Aggregate Fair Value of Securities in a Loss Position	$202,183	$14,174

Note_5_Fair_Value_Measurements6

Note 5 - Fair Value Measurements (Details) - Gross Realized Gains and Gross Realized Losses (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Gross realized gains on sales of available-for-sale securities	'	'
Gross realized gains on sales of available-for-sale securities	$6,692	$46
Gross realized losses on sales of available-for-sale securities	'	'
Gross realized losses on sales of available-for-sale securities	-166	-404
Net realized gain (loss) on sales of available-for-sale securities	6,526	-358
Equity Securities [Member]	'	'
Gross realized gains on sales of available-for-sale securities	'	'
Gross realized gains on sales of available-for-sale securities	5,431	'
Gross realized losses on sales of available-for-sale securities	'	'
Gross realized losses on sales of available-for-sale securities	-154	'
Debt Securities [Member]	'	'
Gross realized gains on sales of available-for-sale securities	'	'
Gross realized gains on sales of available-for-sale securities	1,261	46
Gross realized losses on sales of available-for-sale securities	'	'
Gross realized losses on sales of available-for-sale securities	($12)	($404)

Note_5_Fair_Value_Measurements7

Note 5 - Fair Value Measurements (Details) - Quantitative Data Regarding Unobservable Inputs and Sensitivity Analysis	3 Months Ended
	Mar. 31, 2014
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'
Number of homes closed per year	88
Discount rate	10.00%
Minimum [Member]	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'
Number of homes closed per year	0
Discount rate	6.00%
Maximum [Member]	'
Fair Value Inputs, Assets, Quantitative Information [Line Items]	'
Number of homes closed per year	155
Discount rate	16.00%

Note_5_Fair_Value_Measurements8

Note 5 - Fair Value Measurements (Details) - Summary of Activity for Metro Bonds (Metropolitan District Bond Securities [Member], USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Metropolitan District Bond Securities [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Summary of Activity for Metro Bonds [Line Items]	'	'
Balance at beginning of period	$12,729	$5,818
Balance at end of period	13,027	5,818
Increase in fair value (recorded in other comprehensive income)	'	0
Change due to accretion of principal	$298	$0

Note_5_Fair_Value_Measurements9

Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes [Line Items]	'	'
Carrying Amount	$1,095,958	$1,095,620
Fair Value	1,091,626	1,086,083
5.375% Senior Notes Due December 2014 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes [Line Items]	'	'
Carrying Amount	249,700	249,814
Fair Value	'	258,750
5.375% Senior Notes Due July 2015 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes [Line Items]	'	'
Carrying Amount	249,946	249,935
Fair Value	260,313	262,562
5.625% Senior Notes Due 2020 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes [Line Items]	'	'
Carrying Amount	246,012	245,871
Fair Value	266,250	259,688
5.5% Senior Notes Due 2024 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes [Line Items]	'	'
Carrying Amount	250,000	'
Fair Value	255,313	'
6.000% Senior Notes Due January 2043 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes [Line Items]	'	'
Carrying Amount	350,000	350,000
Fair Value	$309,750	$305,083

Recovered_Sheet1

Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (Parentheticals)	3 Months Ended	12 Months Ended
	Mar. 31, 2014	Dec. 31, 2013
5.375% Senior Notes Due December 2014 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (Parentheticals) [Line Items]	'	'
Senior Notes, maturity date	'2014	'2014
Senior Notes, interest rate	5.38%	5.38%
5.375% Senior Notes Due July 2015 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (Parentheticals) [Line Items]	'	'
Senior Notes, maturity date	'2015	'2015
Senior Notes, interest rate	5.38%	5.38%
5.625% Senior Notes Due 2020 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (Parentheticals) [Line Items]	'	'
Senior Notes, maturity date	'2020	'2020
Senior Notes, interest rate	5.63%	5.63%
5.5% Senior Notes Due 2024 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (Parentheticals) [Line Items]	'	'
Senior Notes, maturity date	'2024	'2024
Senior Notes, interest rate	5.50%	5.50%
6.000% Senior Notes Due January 2043 [Member]	'	'
Note 5 - Fair Value Measurements (Details) - Estimated Fair Value of Senior Notes (Parentheticals) [Line Items]	'	'
Senior Notes, maturity date	'2043	'2043
Senior Notes, interest rate	6.00%	6.00%

Note_6_Inventories_Details_Sum

Note 6 - Inventories (Details) - Summary of Inventory (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Housing Completed or Under Construction:	'	'
Housing completed or under construction	$712,069	$636,700
Land and Land Under Development:	'	'
Land and land under development	838,703	774,961
Total Inventories	1,550,772	1,411,661
West [Member]	'	'
Housing Completed or Under Construction:	'	'
Housing completed or under construction	313,078	270,778
Land and Land Under Development:	'	'
Land and land under development	492,603	459,512
Mountain [Member]	'	'
Housing Completed or Under Construction:	'	'
Housing completed or under construction	225,403	194,101
Land and Land Under Development:	'	'
Land and land under development	219,944	211,526
East [Member]	'	'
Housing Completed or Under Construction:	'	'
Housing completed or under construction	173,588	171,821
Land and Land Under Development:	'	'
Land and land under development	$126,156	$103,923

Note_7_Capitalization_of_Inter2

Note 7 - Capitalization of Interest (Details) - Interest Activity (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Interest Activity [Abstract]	'	'
Homebuilding interest incurred	$19,182	$14,339
Less: Interest capitalized	-18,497	-13,522
Homebuilding interest expensed	685	817
Interest capitalized	74,155	69,143
Interest capitalized during period	18,497	13,522
Less: Previously capitalized interest included in home cost of sales	-11,724	-9,874
Interest capitalized	$80,928	$72,791

Note_8_Homebuilding_Prepaid_Ex2

Note 8 - Homebuilding Prepaid Expenses and Other Assets (Details) - Summary of Homebuilding Prepaid Expenses and Other Assets (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Summary of Homebuilding Prepaid Expenses and Other Assets [Abstract]	'	'
Land option deposits	$17,908	$15,221
Deferred marketing costs	20,272	15,830
Prepaid expenses	4,260	4,349
Goodwill	6,008	6,008
Deferred debt issuance costs, net	13,047	11,527
Other	643	590
Total	$62,138	$53,525

Note_9_Homebuilding_Accrued_Li2

Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Details) - Homebuilding Accrued Liabilities (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Details) - Homebuilding Accrued Liabilities [Line Items]	'	'	'	'
Warranty reserves	$21,447	$22,238	$23,098	$23,151
Homebuilding [Member] | Land Development And Home Construction Accruals [Member]	'	'	'	'
Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Details) - Homebuilding Accrued Liabilities [Line Items]	'	'	'	'
Accrued liabilities current and non-current	8,168	9,592	'	'
Homebuilding [Member]	'	'	'	'
Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Details) - Homebuilding Accrued Liabilities [Line Items]	'	'	'	'
Accrued compensation and related expenses	12,127	35,990	'	'
Accrued executive deferred compensation	30,796	30,796	'	'
Accrued interest	14,391	24,198	'	'
Warranty reserves	21,447	22,238	'	'
Customer and escrow deposits	11,758	10,759	'	'
Accrued liabilities current and non-current	118,524	152,821	'	'
Other accrued liabilities	$19,837	$19,248	'	'

Note_9_Homebuilding_Accrued_Li3

Note 9 - Homebuilding Accrued Liabilities and Financial Services Accounts Payable and Accrued Liabilities (Details) - Financial Services Accounts Payable and Accrued Liabilities (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Financial Services Accounts Payable and Accrued Liabilities [Abstract]	'	'	'	'
Insurance reserves	$49,076	$49,637	$48,949	$47,852
Accounts payable and other accrued liabilities	6,059	6,002	'	'
Total accounts payable and accrued liabilities	$55,135	$55,639	'	'

Note_10_Warranty_Accrual_Detai

Note 10 - Warranty Accrual (Details) - Warranty Accrual and Payment Activity (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Warranty Accrual and Payment Activity [Abstract]	'	'
Balance at beginning of period	$22,238	$23,151
Expense provisions	991	1,122
Cash payments	-982	-1,475
Adjustments	-800	300
Balance at end of period	$21,447	$23,098

Note_11_Insurance_Reserves_Det

Note 11 - Insurance Reserves (Details) - Insurance Reserves (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Insurance Reserves [Abstract]	'	'
Balance at beginning of period	$49,637	$47,852
Balance at end of period	49,076	48,949
Expense provisions	1,310	1,527
Cash payments, net of recoveries	($1,871)	($430)

Note_12_Deferred_Compensation_1

Note 12 - Deferred Compensation Retirement Plans (Details) (USD $)	Mar. 31, 2014
In Millions, unless otherwise specified
Chairman Of The Board And Chief Executive Officer [Member]	'
Note 12 - Deferred Compensation Retirement Plans (Details) [Line Items]	'
Deferred Compensation Arrangement with Individual, Recorded Liability	$14.80
President And Chief Operating Officer [Member]	'
Note 12 - Deferred Compensation Retirement Plans (Details) [Line Items]	'
Deferred Compensation Arrangement with Individual, Recorded Liability	$16

Note_13_Income_Taxes_Details

Note 13 - Income Taxes (Details) (USD $)	3 Months Ended		12 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]	'	'	'
Income Tax Expense (Benefit)	$7,136,000	$70,000	'
Effective Income Tax Rate Reconciliation, Percent	38.30%	0.30%	'
Valuation Allowance, Deferred Tax Asset, Change in Amount	'	'	$227,300,000

Note_13_Income_Taxes_Details_C

Note 13 - Income Taxes (Details) - Components of Deferred Tax Assets and Liabilities (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Deferred tax assets:	'	'
Federal net operating loss carryforwards	$75,706	$72,915
State net operating loss carryforwards	42,909	40,227
Alternative minimum tax and other tax credit carryforwards	24,196	24,196
Stock-based compensation expense	25,443	26,651
Warranty, litigation and other reserves	15,313	15,543
Accrued compensation	1,823	11,136
Asset impairment charges	4,965	5,889
Inventory, additional costs capitalized for tax purposes	7,021	7,064
Other, net	3,986	3,446
Total deferred tax assets	201,362	207,067
Valuation allowance	-8,201	-8,201
Total deferred tax assets, net of valuation allowance	193,161	198,866
Deferred tax liabilities:	'	'
Property, equipment and other assets	5,422	5,512
Discount on notes receivable	4,204	4,204
Deferred revenue	3,110	3,985
Unrealized gain on marketable securities	4,754	7,368
Other, net	1,665	1,535
Total deferred tax liabilities	19,155	22,604
Net deferred tax asset	$174,006	$176,262

Note_14_Senior_Notes_Details

Note 14 - Senior Notes (Details) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Note 14 - Senior Notes (Details) [Line Items]	'	'	'
Proceeds from Issuance of Senior Long-term Debt	$248,375,000	$247,813,000	'
Long-term Debt, Gross	1,095,958,000	'	1,095,620,000
Gains (Losses) on Extinguishment of Debt	-9,412,000	'	'
5.5% Senior Notes Due 2024 [Member]	'	'	'
Note 14 - Senior Notes (Details) [Line Items]	'	'	'
Proceeds from Issuance of Senior Long-term Debt	250,000,000	'	'
Proceeds from Debt, Net of Issuance Costs	248,400,000	'	'
Debt Issuance Cost	1,600,000	'	'
5.375% Senior Notes Due December 2014 [Member]	'	'	'
Note 14 - Senior Notes (Details) [Line Items]	'	'	'
Early Repayment of Senior Debt	259,100,000	'	'
Debt Instrument, Face Amount	250,000,000	'	'
Long-term Debt, Gross	249,700,000	'	249,814,000
Gains (Losses) on Extinguishment of Debt	($9,400,000)	'	'

Note_14_Senior_Notes_Details_C

Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (USD $)	Mar. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes [Line Items]	'	'
Senior notes	$1,095,958	$1,095,620
5.375% Senior Notes Due December 2014 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes [Line Items]	'	'
Senior notes	249,700	249,814
5.375% Senior Notes Due July 2015 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes [Line Items]	'	'
Senior notes	249,946	249,935
Senior Notes 5.375% Due February 2020 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes [Line Items]	'	'
Senior notes	246,012	245,871
5.5% Senior Notes Due 2024 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes [Line Items]	'	'
Senior notes	250,000	'
6.000% Senior Notes Due January 2043 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes [Line Items]	'	'
Senior notes	$350,000	$350,000

Note_14_Senior_Notes_Details_C1

Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (Parentheticals)	Mar. 31, 2014	Dec. 31, 2013
5.375% Senior Notes Due December 2014 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (Parentheticals) [Line Items]	'	'
Senior notes, interest rate	5.38%	5.38%
Senior notes, maturity date	'	'2014
5.375% Senior Notes Due July 2015 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (Parentheticals) [Line Items]	'	'
Senior notes, interest rate	5.38%	5.38%
Senior notes, maturity date	'2015	'2015
Senior Notes 5.375% Due February 2020 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (Parentheticals) [Line Items]	'	'
Senior notes, interest rate	5.63%	5.63%
Senior notes, maturity date	'2020	'2020
5.5% Senior Notes Due 2024 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (Parentheticals) [Line Items]	'	'
Senior notes, interest rate	5.50%	5.50%
Senior notes, maturity date	'2024	'
6.000% Senior Notes Due January 2043 [Member]	'	'
Note 14 - Senior Notes (Details) - Carrying Amount of Senior Notes (Parentheticals) [Line Items]	'	'
Senior notes, interest rate	6.00%	6.00%
Senior notes, maturity date	'2043	'2043

Note_15_Stock_Based_Compensati1

Note 15 - Stock Based Compensation (Details) (USD $)	3 Months Ended				12 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2013	Mar. 31, 2013	Dec. 31, 2014
	Employee Stock Option [Member]	Employee Stock Option [Member]	Performance Shares [Member]	Restricted Stock [Member]	Restricted Stock [Member]
			CEO and COO [Member]
Note 15 - Stock Based Compensation (Details) [Line Items]	'	'	'	'	'
Allocated Share-based Compensation Expense	$0.60	$2	$1.20	$1.40	$0.70

Note_16_Commitments_and_Contin2

Note 16 - Commitments and Contingencies (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014
Note 16 - Commitments and Contingencies (Details) [Line Items]	'
Surety Bonds Issued And Outstanding	$110.30
Letters of Credit Outstanding, Amount	32.2
Estimated Cost Related To Bonds	47.1
Estimated Cost Related To Letters Of Credit	5.4
Option Contracts [Member]	'
Note 16 - Commitments and Contingencies (Details) [Line Items]	'
Letters of Credit Outstanding, Amount	3
Earnest Money Deposits	11
Right To Acquire Lots Under Options Contract	2,635
Homeamerican [Member]	'
Note 16 - Commitments and Contingencies (Details) [Line Items]	'
Letters of Credit Outstanding, Amount	$16.70

Note_16_Commitments_and_Contin3

Note 16 - Commitments and Contingencies (Details) - Mortgage Loan Loss Reserve Activity (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Mortgage Loan Loss Reserve Activity [Abstract]	'	'
Balance at beginning of period	$1,370	$805
Expense provisions	'	250
Cash payments	'	-86
Adjustments	-497	'
Balance at end of period	$873	$969

Note_17_Derivative_Financial_I1

Note 17 - Derivative Financial Instruments (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Note 17 - Derivative Financial Instruments (Details) [Line Items]	'	'
Derivative, Gain (Loss) on Derivative, Net	$0.80	$0.40
Commitment to Originate Mortgage Loans [Member]	'	'
Note 17 - Derivative Financial Instruments (Details) [Line Items]	'	'
Notional Amount Of Forward Rate Commitments And Futures Contracts To Hedge Against Mortgage Servicing Rights	71.4	'
No Commitment to Originate Mortgage Loans [Member]	'	'
Note 17 - Derivative Financial Instruments (Details) [Line Items]	'	'
Notional Amount Of Forward Rate Commitments And Futures Contracts To Hedge Against Mortgage Servicing Rights	18.4	'
Forward Sales of Mortgage-backed Securities [Member]	'	'
Note 17 - Derivative Financial Instruments (Details) [Line Items]	'	'
Notional Amount Of Forward Rate Commitments And Futures Contracts To Hedge Against Mortgage Servicing Rights	$64	'

Note_18_Lines_of_Credit_and_To1

Note 18 - Lines of Credit and Total Debt Obligations (Details) (USD $)

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Mar. 31, 2014

Dec. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Dec. 31, 2012

Mar. 31, 2014

Mar. 31, 2014

In Millions, unless otherwise specified

Upon Request [Member]

Borrowing Base is Required [Member]

Borrowing Base Is Not Required [Member]

Subject to Acceleration [Member]

Revolving Credit Facility [Member]

Standby Letters of Credit [Member]

Standby Letters of Credit [Member]

Mortgage Repurchase Facility [Member]

Mortgage Repurchase Facility [Member]

Mortgage Repurchase Facility [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

London Interbank Offered Rate (LIBOR) [Member]

London Interbank Offered Rate (LIBOR) [Member]

Revolving Credit Facility [Member]

Revolving Credit Facility [Member]

Mortgage Repurchase Facility [Member]

Mortgage Repurchase Facility [Member]

Note 18 - Lines of Credit and Total Debt Obligations (Details) [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity

$1,000

'

'

'

$450

'

'

$50

$80

$50

'

'

Debt Instrument, Maturity Date

'

'

'

'

13-Dec-18

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity, Percentage

'

'

'

'

'

50.00%

'

'

'

'

'

'

Line of Credit Facility, Leverage Ratio

'

55.00%

55.00%

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Covenant Terms, Ownership Percentage

'

'

'

50.00%

'

'

'

'

'

'

'

'

Line of Credit Facility, Amount Outstanding

'

'

'

'

'

$15.50

$14.90

$39.30

$63.10

'

'

'

Debt Instrument, Basis Spread on Variable Rate

'

'

'

'

'

'

'

'

'

'

3.00%

2.75%

Note_19_Supplemental_Guarantor2

Note 19 - Supplemental Guarantor Information (Details)	3 Months Ended
	Mar. 31, 2014
Note 19 - Supplemental Guarantor Information (Details) [Line Items]	'
Maximum Percentage Of Consolidated Net Worth Of Guarantor For Suspension Of Guarantee	5.00%
Maximum Aggregate Percentage Of Consolidated Net Worth Of All Guarantors For Suspension Of Guarantee	10.00%
Maximum Aggregate Percentage Of Consolidated Net Worth Of All Guarantors For Suspension Of Guarantee To Permit Cure Of Default	15.00%
Guarantor Subsidiaries [Member]	'
Note 19 - Supplemental Guarantor Information (Details) [Line Items]	'
Equity Method Investment, Ownership Percentage	100.00%

Note_19_Supplemental_Guarantor3

Note 19 - Supplemental Guarantor Information (Details) - Supplemental Condensed Combining Balance Sheet (USD $)	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	$94,819	$199,338	$215,680	$160,095
Housing completed or under construction	712,069	636,700	'	'
Land and land under development	838,703	774,961	'	'
Total inventories	1,550,772	1,411,661	'	'
Deferred tax asset	174,006	176,262	'	'
Total Assets	2,550,237	2,595,449	'	'
Total Liabilities	1,340,548	1,382,200	'	'
Total Stockholderbs Equity	1,209,689	1,213,249	'	'
Total Liabilities and Stockholdersb Equity	2,550,237	2,595,449	'	'
Accounts payable and other liabilities	55,135	55,639	'	'
Homebuilding [Member] | Consolidation, Eliminations [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Trade Receivables	-2,351	-5,459	'	'
Intercompany receivables	-1,403,639	-1,148,767	'	'
Investment in subsidiaries	-201,913	-335,870	'	'
Deferred tax asset	3,122	3,287	'	'
Total Assets	-1,604,781	-1,486,809	'	'
Accrued liabilities	723	-1,207	'	'
Advances and notes payable to parent and subsidiaries	-1,440,581	-1,156,941	'	'
Total Liabilities	-1,439,858	-1,158,148	'	'
Homebuilding [Member] | MDC Holdings [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	65,504	145,180	'	'
Marketable securities	508,744	569,021	'	'
Trade Receivables	8,844	915	'	'
Intercompany receivables	1,394,954	1,144,292	'	'
Investment in subsidiaries	201,913	335,870	'	'
Deferred tax asset	170,884	172,975	'	'
Metropolitan district bond securities (related party)	13,027	'	'	'
Other assets, net	41,882	53,933	'	'
Total Assets	2,405,752	2,422,186	'	'
Accounts payable	'	13	'	'
Accrued liabilities	51,457	97,612	'	'
Advances and notes payable to parent and subsidiaries	48,648	15,692	'	'
Senior notes, net	1,095,958	1,095,620	'	'
Total Liabilities	1,196,063	1,208,937	'	'
Homebuilding [Member] | Guarantor Subsidiaries [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	3,393	3,454	'	'
Restricted cash	1,505	2,195	'	'
Trade Receivables	23,641	27,951	'	'
Housing completed or under construction	712,069	636,700	'	'
Land and land under development	838,703	774,961	'	'
Total inventories	1,550,772	1,411,661	'	'
Intercompany receivables	2,858	2,576	'	'
Other assets, net	51,153	43,569	'	'
Total Assets	1,633,322	1,491,406	'	'
Accounts payable	31,591	15,033	'	'
Accrued liabilities	66,285	56,334	'	'
Advances and notes payable to parent and subsidiaries	1,368,142	1,121,581	'	'
Total Liabilities	1,466,018	1,192,948	'	'
Homebuilding [Member] | Non-Guarantor Subsidiaries [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Intercompany receivables	5,827	1,899	'	'
Total Assets	5,827	1,899	'	'
Accrued liabilities	59	82	'	'
Advances and notes payable to parent and subsidiaries	23,791	19,668	'	'
Total Liabilities	23,850	19,750	'	'
Homebuilding [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	68,897	148,634	'	'
Marketable securities	508,744	569,021	'	'
Restricted cash	1,505	2,195	'	'
Trade Receivables	30,134	23,407	'	'
Housing completed or under construction	712,069	636,700	'	'
Land and land under development	838,703	774,961	'	'
Total inventories	1,550,772	1,411,661	'	'
Deferred tax asset	174,006	176,262	'	'
Metropolitan district bond securities (related party)	13,027	12,729	'	'
Other assets, net	93,035	97,502	'	'
Total Assets	2,440,120	2,428,682	'	'
Accounts payable	31,591	15,046	'	'
Accrued liabilities	118,524	152,821	'	'
Senior notes, net	1,095,958	1,095,620	'	'
Total Liabilities	1,246,073	1,263,487	'	'
Financial Services [Member] | Consolidation, Eliminations [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Intercompany receivables	-39,963	-11,216	'	'
Other assets, net	-3,122	-3,287	'	'
Total Assets	-43,085	-14,503	'	'
Advances and notes payable to parent and subsidiaries	-3,021	'	'	'
Total Liabilities	-6,095	-7,294	'	'
Accounts payable and other liabilities	-3,074	-4,252	'	'
Intercompany payables	'	-3,042	'	'
Financial Services [Member] | Non-Guarantor Subsidiaries [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	25,922	50,704	'	'
Marketable securities	15,870	19,046	'	'
Intercompany receivables	39,963	11,216	'	'
Mortgage loans held-for-sale, net	64,800	92,578	'	'
Other assets, net	6,647	7,726	'	'
Total Assets	153,202	181,270	'	'
Advances and notes payable to parent and subsidiaries	3,021	'	'	'
Mortgage repurchase facility	39,340	63,074	'	'
Total Liabilities	100,570	126,007	'	'
Accounts payable and other liabilities	58,209	59,891	'	'
Intercompany payables	'	3,042	'	'
Financial Services [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	25,922	50,704	'	'
Marketable securities	15,870	19,046	'	'
Mortgage loans held-for-sale, net	64,800	92,578	'	'
Other assets, net	3,525	4,439	'	'
Total Assets	110,117	166,767	'	'
Mortgage repurchase facility	39,340	63,074	'	'
Total Liabilities	94,475	118,713	'	'
Accounts payable and other liabilities	55,135	55,639	'	'
Consolidation, Eliminations [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Total Assets	-1,647,866	-1,501,312	'	'
Total Liabilities	-1,445,953	-1,165,442	'	'
Total Stockholderbs Equity	-201,913	-335,870	'	'
Total Liabilities and Stockholdersb Equity	-1,647,866	-1,501,312	'	'
MDC Holdings [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	65,504	145,180	178,928	125,904
Total Assets	2,405,752	2,422,186	'	'
Total Liabilities	1,196,063	1,208,937	'	'
Total Stockholderbs Equity	1,209,689	1,213,249	'	'
Total Liabilities and Stockholdersb Equity	2,405,752	2,422,186	'	'
Guarantor Subsidiaries [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	3,393	3,454	4,308	3,308
Total Assets	1,633,322	1,491,406	'	'
Total Liabilities	1,466,018	1,192,948	'	'
Total Stockholderbs Equity	167,304	298,458	'	'
Total Liabilities and Stockholdersb Equity	1,633,322	1,491,406	'	'
Non-Guarantor Subsidiaries [Member]	'	'	'	'
Condensed Balance Sheet Statements, Captions [Line Items]	'	'	'	'
Cash and cash equivalents	25,922	50,704	32,444	30,883
Total Assets	159,029	183,169	'	'
Total Liabilities	124,420	145,757	'	'
Total Stockholderbs Equity	34,609	37,412	'	'
Total Liabilities and Stockholdersb Equity	$159,029	$183,169	'	'

Note_19_Supplemental_Guarantor4

Note 19 - Supplemental Guarantor Information (Details) - Supplemental Condensed Combining Statements of Operations and Comprehensive Income (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Homebuilding:	'	'
Interest expense	($685)	($817)
Loss on extinguishment of debt	-9,412	'
Income (loss) before income taxes	18,640	22,586
Financial Services:	'	'
(Provision) benefit for income taxes	-7,136	-70
Net income (loss)	11,504	22,516
Other comprehensive income related to available for sale securities, net of tax	-4,046	2,535
Comprehensive income	7,458	25,051
Homebuilding [Member] | Consolidation, Eliminations [Member]	'	'
Homebuilding:	'	'
Revenues	'	-1,248
Cost of Sales	'	1,248
Selling, general, and administrative expenses	-155	-76
Equity income (loss) of subsidiaries	-17,073	-29,829
Interest income	-10	'
Income (loss) before income taxes	-17,238	-29,905
Homebuilding [Member] | MDC Holdings [Member]	'	'
Homebuilding:	'	'
Selling, general, and administrative expenses	-12,077	-15,579
Equity income (loss) of subsidiaries	17,073	29,829
Interest income	13,227	6,193
Interest expense	-685	-817
Other income (expense), net	-2	-3
Loss on extinguishment of debt	-9,412	'
Income (loss) before income taxes	8,124	19,623
Homebuilding [Member] | Guarantor Subsidiaries [Member]	'	'
Homebuilding:	'	'
Revenues	318,534	332,996
Cost of Sales	-259,478	-275,324
Gross margin	59,056	57,672
Selling, general, and administrative expenses	-36,109	-32,546
Interest income	329	356
Other income (expense), net	-612	-353
Income (loss) before income taxes	22,664	25,129
Homebuilding [Member] | Non-Guarantor Subsidiaries [Member]	'	'
Homebuilding:	'	'
Interest income	3	'
Income (loss) before income taxes	3	'
Homebuilding [Member]	'	'
Homebuilding:	'	'
Revenues	318,534	331,748
Cost of Sales	-259,478	-274,076
Gross margin	59,056	57,672
Selling, general, and administrative expenses	-48,341	-48,201
Interest income	13,549	6,549
Interest expense	-685	-817
Other income (expense), net	-614	-356
Loss on extinguishment of debt	-9,412	'
Income (loss) before income taxes	13,553	14,847
Financial Services [Member] | Consolidation, Eliminations [Member]	'	'
Homebuilding:	'	'
Income (loss) before income taxes	165	76
Financial Services [Member] | Non-Guarantor Subsidiaries [Member]	'	'
Homebuilding:	'	'
Income (loss) before income taxes	4,922	7,663
Financial Services [Member]	'	'
Homebuilding:	'	'
Revenues	9,223	12,506
Income (loss) before income taxes	5,087	7,739
Consolidation, Eliminations [Member]	'	'
Homebuilding:	'	'
Income (loss) before income taxes	-17,073	-29,829
Financial Services:	'	'
Net income (loss)	-17,073	-29,829
Other comprehensive income related to available for sale securities, net of tax	-62	96
Comprehensive income	-17,135	-29,733
MDC Holdings [Member]	'	'
Homebuilding:	'	'
Income (loss) before income taxes	8,124	19,623
Financial Services:	'	'
(Provision) benefit for income taxes	3,380	2,893
Net income (loss)	11,504	22,516
Other comprehensive income related to available for sale securities, net of tax	-4,046	2,535
Comprehensive income	7,458	25,051
Guarantor Subsidiaries [Member]	'	'
Homebuilding:	'	'
Income (loss) before income taxes	22,664	25,129
Financial Services:	'	'
(Provision) benefit for income taxes	-8,677	-78
Net income (loss)	13,987	25,051
Comprehensive income	13,987	25,051
Non-Guarantor Subsidiaries [Member]	'	'
Homebuilding:	'	'
Income (loss) before income taxes	4,925	7,663
Financial Services:	'	'
(Provision) benefit for income taxes	-1,839	-2,885
Net income (loss)	3,086	4,778
Other comprehensive income related to available for sale securities, net of tax	62	-96
Comprehensive income	$3,148	$4,682

Note_19_Supplemental_Guarantor5

Note 19 - Supplemental Guarantor Information (Details) - Supplemental Condensed Combining Statements of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2014	Mar. 31, 2013
Condensed Cash Flow Statements, Captions [Line Items]	'	'
Net cash provided by (used in) operating activities	($114,248)	($55,418)
Net cash used in investing activities	56,342	-107,069
Financing activities:	'	'
Mortgage repurchase facility	-23,734	-34,859
Proceeds from issuance of senior notes	248,375	247,813
Repayment of senior notes	-259,118	'
Dividend payments	-12,207	-12,207
Proceeds from the exercise of stock options	71	5,118
Net cash provided by (used in) financing activities	-46,613	218,072
Net increase in cash and cash equivalents	-104,519	55,585
Cash and cash equivalents:	'	'
Beginning of period	199,338	160,095
End of period	94,819	215,680
Consolidation, Eliminations [Member]	'	'
Condensed Cash Flow Statements, Captions [Line Items]	'	'
Net cash used in investing activities	66,511	86,949
Financing activities:	'	'
Intercompany advances (repayments)	-66,511	-86,949
Net cash provided by (used in) financing activities	-66,511	-86,949
MDC Holdings [Member]	'	'
Condensed Cash Flow Statements, Captions [Line Items]	'	'
Net cash provided by (used in) operating activities	-43,521	-7,369
Net cash used in investing activities	-13,276	-192,538
Financing activities:	'	'
Proceeds from issuance of senior notes	248,375	247,813
Repayment of senior notes	-259,118	'
Dividend payments	'	-12,207
Proceeds from the exercise of stock options	71	5,118
Net cash provided by (used in) financing activities	-22,879	252,931
Net increase in cash and cash equivalents	-79,676	53,024
Cash and cash equivalents:	'	'
Beginning of period	145,180	125,904
End of period	65,504	178,928
Guarantor Subsidiaries [Member]	'	'
Condensed Cash Flow Statements, Captions [Line Items]	'	'
Net cash provided by (used in) operating activities	-101,004	-151,915
Net cash used in investing activities	-80	-571
Financing activities:	'	'
Intercompany advances (repayments)	101,023	153,486
Net cash provided by (used in) financing activities	101,023	153,486
Net increase in cash and cash equivalents	-61	1,000
Cash and cash equivalents:	'	'
Beginning of period	3,454	3,308
End of period	3,393	4,308
Non-Guarantor Subsidiaries [Member]	'	'
Condensed Cash Flow Statements, Captions [Line Items]	'	'
Net cash provided by (used in) operating activities	30,277	103,866
Net cash used in investing activities	3,187	-909
Financing activities:	'	'
Intercompany advances (repayments)	-34,512	-66,537
Mortgage repurchase facility	-23,734	-34,859
Net cash provided by (used in) financing activities	-58,246	-101,396
Net increase in cash and cash equivalents	-24,782	1,561
Cash and cash equivalents:	'	'
Beginning of period	50,704	30,883
End of period	$25,922	$32,444