<ARTICLE> 5 <LEGEND> This schedule contains summary financial information extracted from MDC Holdings, Inc. consolidated financial statements included in its Form 10-K for the year ended December 31, 1997 and is qualified in its entirety by reference to such financial statements. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 11,678 <SECURITIES> 1,392 <RECEIVABLES> 7,559 <ALLOWANCES> 0 <INVENTORY> 442,940 <CURRENT-ASSETS> 0 <PP&E> 9,709 <DEPRECIATION> 0 <TOTAL-ASSETS> 621,770 <CURRENT-LIABILITIES> 0 <BONDS> 248,551 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 237 <OTHER-SE> 229,356 <TOTAL-LIABILITY-AND-EQUITY> 621,770 <SALES> 949,790 <TOTAL-REVENUES> 969,562 <CGS> (908,247) <TOTAL-COSTS> (917,625) <OTHER-EXPENSES> (11,849) <LOSS-PROVISION> 0 <INTEREST-EXPENSE> (761) <INCOME-PRETAX> 39,327 <INCOME-TAX> (15,122) <INCOME-CONTINUING> 24,205 <DISCONTINUED> 0 <EXTRAORDINARY> (2,179) <CHANGES> 0 <NET-INCOME> 22,026 <EPS-PRIMARY> 1.25 <EPS-DILUTED> 1.08