News

M.D.C. Holdings, Inc. (www.RichmondAmerican.com) today announced the highest levels of quarterly home orders, first quarter home closings and quarter-end backlog in the Company's history. The Company received orders for 2,727 homes during the first quarter of 2001, compared with 2,317 for the same period in 2000, an 18% increase. Orders particularly were strong in Phoenix and Colorado, due to a higher number of active subdivisions, and in Las Vegas resulting from the continued strong demand for new homes in this market. Also in the first quarter of 2001, the Company's home buyer traffic through its subdivisions was 19% higher than in the first quarter of 2000. March 2001 home buyer traffic was the highest for any month in the Company's history and 24% higher than in March 2000.

MDC closed 1,759 homes in the first quarter of 2001, compared with closings of 1,551 homes for the same period in 2000. The Company ended the first quarter of 2001 with a record backlog of 4,323 homes with an estimated sales value of $1.075 billion, 17% and 39% higher, respectively, than the backlog of 3,707 homes with an estimated sales value of $775 million at March 31, 2000.

MDC, whose subsidiaries build homes under the name "Richmond American Homes," is one of the largest homebuilders in the United States. The Company's wholly owned subsidiary HomeAmerican Mortgage Corporation provides mortgage financing primarily for MDC's home buyers. MDC is a major regional homebuilder with a significant presence in some of the country's best housing markets. Richmond American Homes 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.

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

                                         Three Months
                                       Ended March 31,
                                     2001            2000
  Orders For Homes, net (units)
    Colorado                          968             851
    California                        441             412
    Arizona                           732             457
    Nevada                            268             233
    Virginia                          220             278
    Maryland                           98              86

      Total                         2,727           2,317

  Homes Closed (units)
    Colorado                          629             652
    California                        240             219
    Arizona                           498             325
    Nevada                            159             122
    Virginia                          170             164
    Maryland                           63              69

      Total                         1,759           1,551


                                March 31,      December 31,     March 31,
                                  2001             2000           2000

  Backlog (units)
    Colorado                        1,724           1,385         1,825
    California                        709             508           450
    Arizona                         1,044*            747           584
    Nevada                            307             198           248
    Virginia                          378             328           404
    Maryland                          161             126           196

      Total                         4,323           3,292         3,707

      Estimated Sales Value    $1,075,000        $775,000      $775,000

  Active Subdivisions -
   Beginning of Month                 141             130           121

  * In February 2001, MDC acquired certain assets of KE&G, LLC, a Tucson
    area homebuilder, including 63 homes in backlog, 17 of which have closed
    and 46 of which are in backlog at March 31, 2001.

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