<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from MDC
Holdings, Inc. consolidated financial statements included in its Form 10-Q for
the quarter ended March 31, 1996 and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                          21,535
<SECURITIES>                                     6,560
<RECEIVABLES>                                   19,710
<ALLOWANCES>                                         0
<INVENTORY>                                    451,309
<CURRENT-ASSETS>                                     0
<PP&E>                                           9,549
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 631,503
<CURRENT-LIABILITIES>                                0
<BONDS>                                        294,992
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           226
<OTHER-SE>                                     207,477
<TOTAL-LIABILITY-AND-EQUITY>                   631,503
<SALES>                                        191,276
<TOTAL-REVENUES>                               199,246
<CGS>                                          185,242
<TOTAL-COSTS>                                  187,984
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               1,851
<INCOME-PRETAX>                                  6,810
<INCOME-TAX>                                     2,486
<INCOME-CONTINUING>                              4,324
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,324
<EPS-PRIMARY>                                      .22
<EPS-DILUTED>                                      .20