Exhibit 23.1



                       CONSENT OF INDEPENDENT ACCOUNTANTS

We  hereby  consent  to the  incorporation  by  reference in  this Registration
Statement on Form S-8 of M.D.C.  Holdings,  Inc. of our report dated February 3,
1997 appearing on page F-2 of M.D.C. Holdings, Inc.'s Annual Report on Form 10-K
for the year ended December 31, 1996.




/s/Price Waterhouse LLP
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PRICE WATERHOUSE LLP



Denver, Colorado
February 25, 1997