Exhibit 23.1


                         Consent of Independent Auditors


We consent to the incorporation by reference in the Registration Statement on
Form S-8 pertaining to the M.D.C. Holdings,  Inc. 2001 Equity Incentive Plan and
M.D.C. Holdings, Inc. Stock Option Plan for Non-Employee Directors of our report
dated  January 15, 2001,  except for Note S, as to which the date is January 23,
2001, with respect to the consolidated  financial statements of M.D.C. Holdings,
Inc.  included in its Annual Report (Form 10-K) for the year ended  December 31,
2000, filed with the Securities and Exchange Commission.

/s/ ERNST & YOUNG LLP

Denver, Colorado
August 16, 2001