September 8, 2006

Via EDGAR

Ms. Melissa N. Rocha, CPA
Division of Corporation Finance
United States Securities and Exchange Commission
100 F. Street, N.E.
Washington, D.C. 20549

Re: M.D.C. Holdings, Inc.
Form 10-K for Fiscal Year Ended December 31, 2005
Form 10-Q for the Fiscal Quarter Ended March 31, 2006
File No. 001-08951

Dear Ms. Rocha:

On behalf of M.D.C. Holdings, Inc. (the “Company” or “MDC”), we hereby provide the following response to the comment contained in the letter dated August 3, 2006.

Form 10-K for Fiscal Year Ended December 31, 2005

Response: As a follow-up to the Commission’s comments concerning segment reporting, the Company has concluded that it will commence disclosing the following reportable segments for its homebuilding operations:

1.	West – Arizona, California and Nevada markets
2.	Mountain – Colorado and Utah markets
3.	East – Virginia and Maryland markets
4.	Other Homebuilding – Delaware Valley, Illinois, Florida and Texas markets

Additionally, the Company will restate its historical segment disclosures by amending the following SEC filings:

1.	December 31, 2005 Form 10-K
2.	March 31, 2006 Form 10-Q
3.	June 30, 2006 Form 10-Q

Ms. Melissa Rocha, CPA
U. S. Securities and Exchange Commission
September 8, 2006
Page 2

Please contact the undersigned with any questions at (303) 804-7706 or Joseph H. Fretz, Secretary and Corporate Counsel of the Company at (303) 804-7730.

Sincerely,

M.D.C. Holdings, Inc.

/s/ Paris G. Reece III

Executive Vice President and
Chief Financial Officer