Price Waterhouse LLP Exhibit 15 May 30, 1995 Securities and Exchange Commission 450 Fifth Street, N.W. Washington, D.C. 20549 We are aware that M.D.C. Holdings, Inc. has included our report dated April 26, 1995 (issued pursuant to the provisions of Statement on Auditing Standards No. 71) in the Prospectus constituting part of its Registration Statement on Form S-3 to be filed on or about May 30, 1995. We are also aware of our responsibilities under the Securities Act of 1933. Yours very truly, Price Waterhouse LLP