<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