News
M.D.C. Holdings, Inc.
August 2001 2000 Orders for Homes, net Colorado 211 230 California 129 124 Arizona 148 188 Nevada 64 63 Northern Virginia/Suburban Maryland 69 92 Total 621 697
MDC has received orders for 5,923 homes for the eight months ended August 31, 2001, 3% higher than the 5,765 home orders received for the same period in 2000.
Home orders were lower in Virginia and Phoenix in August 2001, compared with August 2000, primarily due to a temporary reduction in the number of active subdivisions in these markets, with a significant percentage of subdivisions currently in close-out phase. The Company anticipates opening five new subdivisions in both Virginia and Phoenix in the next 60 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, Phoenix, Tucson and Colorado Springs; and among the top ten homebuilders in suburban Maryland, Las Vegas, Southern California and Northern California.
Certain statements in this release, including those related to closings, revenues and earnings, constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These factors include, among other things, (1) general economic and business conditions; (2) interest rate changes; (3) the relative stability of debt and equity markets; (4) competition; (5) the availability and cost of land and other raw materials used by the Company in its homebuilding operations; (6) demographic changes; (7) shortages and the cost of labor; (8) weather related slowdowns; (9) the availability of public utilities in certain markets; (10) slow growth initiatives; (11) building moratoria; (12) governmental regulation, including the interpretation of tax, labor and environmental laws; (13) changes in consumer confidence and preferences; (14) required accounting changes; and (15) other factors over which the Company has little or no control.
SOURCE: M.D.C. Holdings, Inc.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., +1-303-804-7706,
Associates, Inc., +1-212-843-8007,
Holdings, Inc.
Website: https://www.richmondamerican.com/