content: <?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/ownership" xmlns:com="http://www.sec.gov/edgar/common">
    <!-- Generated by Workiva -->
    <headerData>
      <submissionType>144</submissionType>
      <filerInfo>
        <filer>
          <filerCredentials>
            <cik>0001184829</cik>
            <ccc>XXXXXXXX</ccc>
          </filerCredentials>
        </filer>
        <liveTestFlag>LIVE</liveTestFlag>
  
  
  
      </filerInfo>
    </headerData>
    <formData>
      <issuerInfo>
        <issuerCik>0000773141</issuerCik>
        <issuerName>M.D.C. HOLDINGS INC.</issuerName>
        <secFileNumber>001-08951</secFileNumber>
        <issuerAddress>
          <com:street1>4350 S. Monaco Street, Suite 500</com:street1>
          <com:city>Denver</com:city>
          <com:stateOrCountry>CO</com:stateOrCountry>
          <com:zipCode>80237</com:zipCode>
        </issuerAddress>
        <issuerContactPhone>3037731100</issuerContactPhone>
        <nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>David Blackford</nameOfPersonForWhoseAccountTheSecuritiesAreToBeSold>
        <relationshipsToIssuer>
          <relationshipToIssuer>Outside Director</relationshipToIssuer>
        </relationshipsToIssuer>
      </issuerInfo>
      <securitiesInformation>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <brokerOrMarketmakerDetails>
          <name>J.P. Morgan Securities LLC</name>
          <address>
            <com:street1>390 Madison Avenue</com:street1>
            <com:street2>6th Floor</com:street2>
            <com:city>New York</com:city>
            <com:stateOrCountry>NY</com:stateOrCountry>
            <com:zipCode>10017</com:zipCode>
          </address>
        </brokerOrMarketmakerDetails>
        <noOfUnitsSold>6200</noOfUnitsSold>
        <aggregateMarketValue>388802</aggregateMarketValue>
        <noOfUnitsOutstanding>76661479</noOfUnitsOutstanding>
        <approxSaleDate>03/11/2024</approxSaleDate>
        <securitiesExchangeName>NYSE</securitiesExchangeName>
      </securitiesInformation>
      <securitiesToBeSold>
        <securitiesClassTitle>Common</securitiesClassTitle>
        <acquiredDate>08/01/2018</acquiredDate>
        <natureOfAcquisitionTransaction>Restricted Stock Awarded Under Director Equity Plan</natureOfAcquisitionTransaction>
        <nameOfPersonfromWhomAcquired>Issuer</nameOfPersonfromWhomAcquired>
        <isGiftTransaction>N</isGiftTransaction>
        <amountOfSecuritiesAcquired>6200</amountOfSecuritiesAcquired>
        <paymentDate>08/01/2018</paymentDate>
        <natureOfPayment>NA</natureOfPayment>
      </securitiesToBeSold>
      <nothingToReportFlagOnSecuritiesSoldInPast3Months>Y</nothingToReportFlagOnSecuritiesSoldInPast3Months>
      <remarks>This filing is for shares acquired by David Blackford in the form of Executive Stock Compensation from 08/01/2018 - 08/01/2022.</remarks>
      <noticeSignature>
        <noticeDate>03/11/2024</noticeDate>
        <signature>/s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for David Blackford</signature>
      </noticeSignature>
    </formData>
  </edgarSubmission>
metadata_documents: [{"type": "144", "sequence": "1", "filename": "primary_doc.xml", "secsgml_size_bytes": 3039}]
text: 144
  0001184829
  XXXXXXXX
  LIVE
  0000773141
  M.D.C. HOLDINGS INC.
  001-08951
  4350 S. Monaco Street, Suite 500
  Denver
  CO
  80237
  3037731100
  David Blackford
  Outside Director
  Common
  J.P. Morgan Securities LLC
  390 Madison Avenue
  6th Floor
  New York
  NY
  10017
  6200
  388802
  76661479
  03/11/2024
  NYSE
  Common
  08/01/2018
  Restricted Stock Awarded Under Director Equity Plan
  Issuer
  N
  6200
  08/01/2018
  NA
  Y
  This filing is for shares acquired by David Blackford in the form of Executive Stock Compensation from 08/01/2018 - 08/01/2022.
  03/11/2024
  /s/ J.P. Morgan Securities LLC as agent and attorney-in-fact for David Blackford