<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM MDC
HOLDINGS, INC. CONSOLIDATED FINANCIAL STATEMENTS INCLUDED IN ITS FORM 10-K FOR
THE YEAR ENDED DECEMBER 31, 1998 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE
TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<CASH>                                          10,079
<SECURITIES>                                         0
<RECEIVABLES>                                   12,771
<ALLOWANCES>                                         0
<INVENTORY>                                    511,284
<CURRENT-ASSETS>                                     0
<PP&E>                                           2,901
<DEPRECIATION>                                       0
<TOTAL-ASSETS>                                 714,013
<CURRENT-LIABILITIES>                                0
<BONDS>                                        225,410
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                           279
<OTHER-SE>                                     297,852
<TOTAL-LIABILITY-AND-EQUITY>                   714,013
<SALES>                                      1,234,272
<TOTAL-REVENUES>                             1,263,209
<CGS>                                      (1,147,508)
<TOTAL-COSTS>                              (1,159,629)
<OTHER-EXPENSES>                              (19,728)
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0
<INCOME-PRETAX>                                 83,852
<INCOME-TAX>                                  (32,284)
<INCOME-CONTINUING>                             51,568
<DISCONTINUED>                                       0
<EXTRAORDINARY>                               (15,314)
<CHANGES>                                            0
<NET-INCOME>                                    36,254
<EPS-PRIMARY>                                     1.96
<EPS-DILUTED>                                     1.64