Exhibit 23.1


                         Consent of Independent Auditors


We consent to the incorporation by reference in the Registration Statement on
Form S-8 pertaining to the M.D.C. Holdings,  Inc. Employee Equity Incentive Plan
and M.D.C.  Holdings,  Inc.  Director Equity  Incentive Plan of our report dated
January 15,  2001,  except for Note S, as to which the date is January 23, 2001,
with respect to the consolidated financial statements of M.D.C.  Holdings,  Inc.
included in its Annual Report (Form 10-K) for the year ended  December 31, 2000,
filed with the Securities and Exchange Commission.

/s/ ERNST & YOUNG LLP

Denver, Colorado
May 7, 2001