News
M.D.C. Holdings, Inc.
October 2002 2001 Orders for Homes, net Colorado 149 176 California 172 96 Arizona 214 119 Nevada 108 38 Utah 16 -- Northern Virginia/Suburban Maryland 97 33 Texas 4 -- Total 760 462 Active Subdivisions at Beginning of Month 175 141
MDC has received orders for 8,728 homes for the ten months ended October 31, 2002, 29% higher than the 6,790 home orders received for the same period in 2001.
October 2002 home orders particularly were strong in Phoenix, Nevada and Virginia (up 132%, 184% and 454%, respectively), aided by year-over-year increases in the number of active subdivisions in these markets of 78%, 114% and 90%, respectively. The continued strong demand for new homes in each of these markets, as well as in California and Maryland (with orders up 79% and 25%, respectively), also contributed to improved orders in this period.
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, 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/Fort Worth markets.
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., +1-212-843-8282,
Holdings, Inc.
Web site: https://www.richmondamerican.com/