8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549

                              ---------------------

                                    FORM 8-K

                                 CURRENT REPORT


                     PURSUANT TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934


         Date of Report (Date of earliest event reported): June 3, 1999


                              M.D.C. Holdings, Inc.
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


      Delaware                        1-8951                    84-0622967
  -----------------          -----------------------       -------------------
   (State or other           (Commission file number)       (I.R.S. employer
   jurisdiction of                                          identification no.)
   incorporation)

  3600 South Yosemite Street, Suite 900, Denver, Colorado              80237
  -------------------------------------------------------            ---------
          (Address of principal executive offices)                   (Zip code)


       Registrant's telephone number, including area code: (303) 773-1100
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                                 NOT APPLICABLE
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          (Former name or former address, if changed since last report)




ITEM 5.      OTHER EVENTS


     On June 3, 1999 the Registrant issued the press release attached as
Exhibit 99.1 to this Current Report on Form 8-K.





                                   SIGNATURES


         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


                               ------------------



                                               M.D.C. HOLDINGS, INC.

                                               By:/s/ Paris G. Reece III
                                                  ----------------------------
                                                  Paris G. Reece III
                                                  Senior Vice President and
Dated: June 3, 1999                             Chief Financial Officer

EX-99.1

                   MDC Holdings Reports April/May Home Orders

DENVER, June 3 /PRNewswire/ -- M.D.C. Holdings, Inc. (NYSE: MDC; PCX) today
announced that it received 1,464 home orders in April and May 1999, representing
an increase of 14% (27% on a "same store" basis) over the 1,280 home orders
received for the same period in 1998. Year-over-year home orders for the 1999
two-month period increased in all of the Company's markets as a result of the
continued strong demand for new homes. Home orders for the two-month period
ended May 31, 1999 compared favorably with the same period in 1998, despite a
20% increase in 1998 over the home orders received in April and May of 1997. The
Company has received orders for 3,710 homes for the five months ended May 31,
1999, an increase of 4% over the 3,556 home orders received for the same period
in 1998.

MDC is one of the largest homebuilders in the United States. The Company also
provides mortgage financing, primarily for MDC's home buyers, 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 metropolitan Denver; among
the top five homebuilders in Northern Virginia, Tucson and Colorado Springs;
among the top ten homebuilders in Southern California, Phoenix, suburban
Maryland and Las Vegas; and has a growing presence in the San Francisco Bay
area.