<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 March 31, 1999 and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               MAR-31-1999
<CASH>                                          10,500
<SECURITIES>                                         0
<RECEIVABLES>                                   15,136
<ALLOWANCES>                                         0
<INVENTORY>                                    575,467
<CURRENT-ASSETS>                                     0
<PP&E>                                           2,693
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 762,266
<CURRENT-LIABILITIES>                                0
<BONDS>                                        251,359
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           281
<OTHER-SE>                                     315,755
<TOTAL-LIABILITY-AND-EQUITY>                   762,266
<SALES>                                        289,880
<TOTAL-REVENUES>                               297,125
<CGS>                                        (264,726)
<TOTAL-COSTS>                                (268,092)
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 22,728
<INCOME-TAX>                                   (8,977)
<INCOME-CONTINUING>                             13,751
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    13,751
<EPS-PRIMARY>                                      .62
<EPS-DILUTED>                                      .61