<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 September 30, 1997 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               SEP-30-1997
<CASH>                                          13,685
<SECURITIES>                                     3,034
<RECEIVABLES>                                   15,863
<ALLOWANCES>                                         0
<INVENTORY>                                    443,087
<CURRENT-ASSETS>                                     0
<PP&E>                                           9,431
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 643,028
<CURRENT-LIABILITIES>                                0
<BONDS>                                        267,500
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           235
<OTHER-SE>                                     221,714
<TOTAL-LIABILITY-AND-EQUITY>                   643,028
<SALES>                                        683,748
<TOTAL-REVENUES>                               697,722
<CGS>                                        (656,224)
<TOTAL-COSTS>                                (671,879)
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               (761)
<INCOME-PRETAX>                                 25,843
<INCOME-TAX>                                   (9,821)
<INCOME-CONTINUING>                             16,022
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                (2,179)
<CHANGES>                                            0
<NET-INCOME>                                    13,843
<EPS-PRIMARY>                                      .76
<EPS-DILUTED>                                      .68