<ARTICLE> 5
<LEGEND>
This schedule contains summary financial information extracted from
MDC Holdings Inc. condensed consolidated financial statements included in its
Form 10-Q for the quarterly period ended March 31, 1995 and is qualified in
its entirety by reference to such financial statements.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-START>                             JAN-01-1995
<PERIOD-END>                               MAR-31-1995
<CASH>                                          23,529
<SECURITIES>                                     6,205
<RECEIVABLES>                                   15,376
<ALLOWANCES>                                         0
<INVENTORY>                                    464,432
<CURRENT-ASSETS>                                     0
<PP&E>                                           9,799
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 700,527
<CURRENT-LIABILITIES>                                0
<BONDS>                                        325,492
<COMMON>                                           216
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<OTHER-SE>                                     197,235
<TOTAL-LIABILITY-AND-EQUITY>                   700,527
<SALES>                                        184,529
<TOTAL-REVENUES>                               192,518
<CGS>                                          176,520
<TOTAL-COSTS>                                  180,340
<OTHER-EXPENSES>                                 3,127
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               2,839
<INCOME-PRETAX>                                  6,212
<INCOME-TAX>                                     2,144
<INCOME-CONTINUING>                              4,068
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                     4,068
<EPS-PRIMARY>                                      .20
<EPS-DILUTED>                                      .19