News
M.D.C. Holdings, Inc.
MDC closed 1,674 homes in the first quarter of 2002, compared with closings of 1,759 homes for the same period in 2001. The Company ended the first quarter of 2002 with a backlog of 3,984 homes with an estimated sales value of $1.050 billion, compared with the backlog of 4,323 homes with an estimated sales value of $1.075 billion at March 31, 2001.
MDC, whose subsidiaries build homes under the name "Richmond American Homes," is one of the largest homebuilders in the United States. The Company also provides mortgage financing, primarily for MDC's homebuyers, 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 Colorado; among the top five homebuilders in Northern Virginia, Phoenix and Tucson; and among the top ten homebuilders in suburban Maryland, Las Vegas, Northern California and Southern California.
M.D.C. HOLDINGS, INC. Homebuilding Operational Data (Dollars in Thousands) Three Months Ended March 31, 2002 2001 Orders For Homes, net (units) Colorado 1,001 968 California 591 441 Arizona 670 732 Nevada 207 268 Virginia 242 220 Maryland 65 98 Total 2,776 2,727 Homes Closed (units) Colorado 609 629 California 292 240 Arizona 438 498 Nevada 141 159 Virginia 130 170 Maryland 64 63 Total 1,674 1,759 March 31, December 31, March 31, 2002 2001 2001 Backlog (units) Colorado 1,587 1,195 1,724 California 789 490 709 Arizona 857 625 1,044 Nevada 247 181 307 Virginia 346 234 378 Maryland 158 157 161 Total 3,984 2,882 4,323 Backlog Estimated Sales Value $1,050,000 $760,000 $1,075,000 Active Subdivisions 150 137 138
SOURCE: M.D.C. Holdings, Inc.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., +1-303-804-7706,
Website: https://www.richmondamerican.com/