<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 June 30, 1997 and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<CASH>                                          11,463
<SECURITIES>                                     4,020
<RECEIVABLES>                                   18,567
<ALLOWANCES>                                         0
<INVENTORY>                                    452,365
<CURRENT-ASSETS>                                     0
<PP&E>                                           9,445
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 635,757
<CURRENT-LIABILITIES>                                0
<BONDS>                                        283,855
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           234
<OTHER-SE>                                     213,900
<TOTAL-LIABILITY-AND-EQUITY>                   635,757
<SALES>                                        422,691
<TOTAL-REVENUES>                               431,104
<CGS>                                          405,398
<TOTAL-COSTS>                                  417,055
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               (761)
<INCOME-PRETAX>                                 14,049
<INCOME-TAX>                                   (5,329)
<INCOME-CONTINUING>                              8,720
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (2,179)
<CHANGES>                                            0
<NET-INCOME>                                     6,541
<EPS-PRIMARY>                                      .36
<EPS-DILUTED>                                      .34