Exhibit 23

                       CONSENT OF INDEPENDENT ACCOUNTANTS

We  hereby  consent  to  the  incorporation  by  reference  in  each  Prospectus
constituting  part of the Registration  Statements on Forms S-3 (nos.  33-52241,
33-54007, 33-59703, 333-17035 and 333-36631), Form S-4 (no. 33-52245), and Forms
S-8 (nos. 333-22167 and 33-54429) of M.D.C.  Holdings,  Inc. of our report dated
February 5, 1998 appearing on page F-2 of this Form 10-K.





/s/Price Waterhouse
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PRICE WATERHOUSE LLP

Denver, Colorado
February 5, 1998