Exhibit 23.1


                      CONSENT OF INDEPENDENT ACCOUNTANTS



We hereby consent to the incorporation by reference in the Prospectus
constituting part of this Registration Statement on Form S-3 of M.D.C.
Holdings, Inc. of our report dated February 10, 1994 appearing on page
F-2 of M.D.C. Holdings, Inc.'s Annual Report on Form 10-K for the year
ended December 31, 1993. We also consent to the reference to us under
the heading "Experts" in such Prospectus.




PRICE WATERHOUSE

Los Angeles, California
June 2, 1994