M.D.C. Holdings, Inc. ( https://www.richmondamerican.com/ ) today announced that it received orders for 889 homes in April 2002. This is the highest level of home orders for any April in the Company's history and 24% higher than the 715 home orders received in April 2001.
Orders for Homes, net
Colorado 289 265
California 200 124
Arizona 204 168
Nevada 90 67
Utah 11 0
Northern Virginia/Suburban Maryland 95 91
Total 889 715
Active Subdivisions at End of Month 157 141
April 2002 home orders particularly were strong in Southern California (an increase of 128%), primarily resulting from the strong demand for new homes in this market. Home orders also improved in Arizona due to an increase in the number of active subdivisions in both Phoenix and Tucson. The Company's Maryland and Northern California divisions received a lower level of home orders than in April 2001, primarily due to fewer active subdivisions in these markets. April 2002 home orders include 35 orders received in Utah and Nevada from lots in six active subdivisions purchased from John Laing Homes in mid-April.
MDC 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 Tucson, and Las Vegas; among the top ten homebuilders in suburban Maryland, Northern California and Southern California; and has recently entered the Salt Lake City and Dallas/Ft. Worth markets.
Contact: Paris G. Reece III, Chief Financial Officer of M.D.C. Holdings,
Inc., +1-303-804-7706, email@example.com; or Rodger Van Allen of Rubenstein
Associates, Inc., +1-212-843-8000, firstname.lastname@example.org, for M.D.C.
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.