M.D.C. Holdings Reports Record January Home Orders and Traffic
- Orders for 812 Homes Most for Any January - Third-highest Monthly Home Orders in MDC's History - January 2001 Home Buyer Traffic Among Strongest for Any Month

M.D.C. Holdings, Inc. (, whose subsidiaries build homes under the name "Richmond American Homes," today announced the highest levels of January home orders and home buyer traffic in the Company's history.

                                            January               Percent
                                     2001            2000          Change

  Orders for Homes, net
    Colorado                          295             291            1%
    California                        143             139            3%
    Arizona                           206             134           54%
    Nevada                             80              76            5%
    Northern Virginia/
     Suburban Maryland                 88             118          (25%)

          Total                       812             758            7%

  Active Subdivisions
   - Beginning of Month               133             131

The Company's January 2001 home buyer traffic through its communities increased 7% from January 2000 to a traffic level that ranks among the strongest for any month in the Company's history. Traffic particularly was strong in Phoenix, Northern California and Las Vegas due to a higher number of active subdivisions and the continued strong demand for new homes in these markets.

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, Tucson and Colorado Springs; and among the top ten homebuilders in suburban Maryland, Phoenix, Las Vegas, Southern California and Northern California.

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

Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., 303-804-7706,; or Rick Matthews of Rubenstein
Associates, Inc., 212-843-8007,