<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, 1998 and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<CASH>                                          15,385
<SECURITIES>                                     1,431
<RECEIVABLES>                                   21,396
<ALLOWANCES>                                         0
<INVENTORY>                                    495,313
<CURRENT-ASSETS>                                     0
<PP&E>                                           1,671
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 719,500
<CURRENT-LIABILITIES>                                0
<BONDS>                                        297,539
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           240
<OTHER-SE>                                     237,646
<TOTAL-LIABILITY-AND-EQUITY>                   719,500
<SALES>                                        532,017
<TOTAL-REVENUES>                               547,380
<CGS>                                        (500,966)
<TOTAL-COSTS>                                (514,151)
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 33,229
<INCOME-TAX>                                  (12,720)
<INCOME-CONTINUING>                             20,509
<DISCONTINUED>                                       0
<EXTRAORDINARY>                               (15,314)
<CHANGES>                                            0
<NET-INCOME>                                     5,195
<EPS-PRIMARY>                                      .29
<EPS-DILUTED>                                      .27