M.D.C. Holdings Buys Land Again

M.D.C. Holdings, parent company of Richmond American Homes, is buying land again. That might seem like non-news, since almost all the public home builders have announced recently that they’re out shopping for land bargains in the down market. But M.D.C. is known as one of the most conservative of land buyers. Its re-entry back into the market could be read as a sign that the land market has truly hit bottom. The Denver-based company announced during its third-quarter conference call Fri., Oct. 30 that it has bought or optioned 1,300 lots and is beefing up its land acquisition team to do more deals.

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