EXHIBIT 23.1

                     Consent of Independent Auditors

     We consent to the incorporation by reference in the Registration  Statement
No. 333-22167 on Form S-8 pertaining to the M.D.C. Holdings, Inc. 401(k) Savings
Plan  of our  report  dated  April  25,  2002,  with  respect  to the  financial
statements and supplemental schedule of the M.D.C. Holdings, Inc. 401(k) Savings
Plan included in this Annual Report on Form 11-K for the year ended December 31,
2001.

                                          /s/ Ernst & Young LLP

Denver, Colorado
June 21, 2002