<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