M.D.C. Holdings, Inc. (www.RichmondAmerican.com) today announced May home orders.
Orders for Homes, net
Colorado 199 161
California 120 154
Arizona 184 131
Nevada 38 69
Northern Virginia/Suburban Maryland 79 92
Total 620 607
MDC has received orders for 4,062 homes for the five months ended May 31, 2001, ten percent higher than the 3,695 home orders received for the same period in 2000.
Home orders in Southern California and Nevada decreased in May 2001 from May 2000, primarily due to a temporary reduction in the number of active subdivisions in these markets. The Company anticipates opening seven new subdivisions in Southern California in the next two months, and should complete three new model complexes in existing active subdivisions as well as open three new subdivisions in Las Vegas during the next 90 days.
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, suburban Maryland, Phoenix, Tucson, Las Vegas and Colorado Springs; and among the top ten homebuilders in Southern California and Northern California.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., 303-804-7706, email@example.com; or Rick Matthews of Rubenstein
Associates, Inc., 212-843-8007, firstname.lastname@example.org, for M.D.C. Holdings,
The Richmond American Homes companies (RAH), HomeAmerican Mortgage Corporation (HMC), American Home Insurance Agency (also known as AHI Insurance Agency) (AHI) and American Home Title and Escrow Company (AHT) are owned, directly or indirectly, by M.D.C. Holdings, Inc. and, therefore, are affiliated companies. Each of RAH, HMC, AHI and AHT offers services independently of each other, and if you obtain a product or service from one company, you are not required to utilize the services of, or obtain products from, the other company. Your decision to use a company that is not affiliated with RAH, HMC, AHI or AHT will not affect your ability to obtain products and services from these companies.
Certain statements on the Site, including statements regarding the MDC Companies' business, financial condition, results of operation, cash flows, strategies and prospects, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as "likely," "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or the negative of such terms and other comparable terminology. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the MDC Companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Additional information about the risks and uncertainties applicable to the MDC Companies' business is contained in MDC's filings with the Securities and Exchange Commission, including MDC's Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q. The MDC Companies undertake no duty to update publicly any forward-looking statements, whether as a result of new information, future events or otherwise. However, any further disclosures made on related subjects in MDC's subsequent filings with the Securities and Exchange Commission, press releases and/or presentations should be considered.