News

M.D.C. Holdings, Inc. (www.RichmondAmerican.com), which builds homes under the name "Richmond American Homes," today announced record 2000 third quarter and nine-month home orders and home closings and September 30th backlog. The Company received orders for 2,092 homes during the third quarter of 2000, representing an increase of 30% (approximately 26% on a "same store" basis) from the 1,616 home orders received for the same period in 1999. The 2000 third quarter home order increase resulted from the addition of ten active subdivisions in Phoenix, as well as the continued strong demand for new homes in the Phoenix, Northern California, Las Vegas and Northern Virginia markets. The Company received orders for 6,381 homes for the nine months ended September 30, 2000, up 8% from the 5,891 home orders received for the same period in 1999.

MDC closed 1,943 homes and 5,355 homes, respectively, for the three and nine months ended September 30, 2000, compared with closings of 1,875 homes and 5,186 homes, respectively, for the same periods in 1999. The Company's strong third quarter 2000 home orders contributed to a record quarter-end backlog of 3,967 homes with an estimated sales value of $930 million at September 30, 2000, compared with a backlog of 3,635 homes with an estimated sales value of $750 million at September 30, 1999.

MDC is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's home buyers, through its wholly owned subsidiary, HomeAmerican Mortgage Corporation. MDC is a major regional homebuilder with a significant presence in some of the country's best housing markets. The Company is the largest homebuilder in metropolitan Denver; among the top five homebuilders in Northern Virginia, suburban Maryland, Tucson and Colorado Springs; and among the top ten homebuilders in Phoenix, Las Vegas, Southern California and the San Francisco Bay area.

                          M.D.C. HOLDINGS, INC.
                      Homebuilding Operational Data

                               Three Months               Nine Months
                            Ended September 30,        Ended September 30,
                            2000         1999          2000          1999

  Orders For Homes,
   net (units)
    Colorado                 668           655        2,134         2,259
    California               415           329        1,272         1,129
    Arizona                  573           261        1,486         1,199
    Nevada                   199           151          631           425
    Virginia                 177           150          641           611
    Maryland                  60            70          217           268

      Total                2,092         1,616        6,381         5,891

  Homes Closed (units)
    Colorado                 702           653        2,152         1,846
    California               369           381          887           921
    Arizona                  405           444        1,094         1,299
    Nevada                   212           151          500           407
    Virginia                 175           183          497           493
    Maryland                  80            63          225           220

      Total                1,943         1,875        5,355         5,186


                        September 30, December 31,  September 30,
                            2000          1999          1999
  Backlog (units)
    Colorado               1,608         1,626         1,768
    California               642           257           534
    Arizona                  844           452           596
    Nevada                   268           137           164
    Virginia                 434           290           372
    Maryland                 171           179           201

      Total                3,967         2,941         3,635

      Estimated Sales
       Value
       (dollars in
        thousands)      $930,000      $600,000      $750,000

SOURCE: M.D.C. Holdings, Inc.