<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, 1998 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               SEP-30-1998
<CASH>                                           9,230
<SECURITIES>                                       392
<RECEIVABLES>                                   20,366
<ALLOWANCES>                                         0
<INVENTORY>                                    515,237
<CURRENT-ASSETS>                                     0
<PP&E>                                           1,999
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 727,989
<CURRENT-LIABILITIES>                                0
<BONDS>                                        264,355
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           241
<OTHER-SE>                                     251,518
<TOTAL-LIABILITY-AND-EQUITY>                   727,989
<SALES>                                        857,286
<TOTAL-REVENUES>                               879,015
<CGS>                                        (800,966)
<TOTAL-COSTS>                                (809,668)
<OTHER-EXPENSES>                              (12,862)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 56,485
<INCOME-TAX>                                  (21,719)
<INCOME-CONTINUING>                             34,766
<DISCONTINUED>                                       0
<EXTRAORDINARY>                               (15,314)
<CHANGES>                                            0
<NET-INCOME>                                    19,452
<EPS-PRIMARY>                                     1.07
<EPS-DILUTED>                                      .91