How “Bad” is it?: An Overview of National Real Estate Market Data

Last weekend’s annual Keller Williams conference in Anaheim California shed some light on the volatile national real estate market. In his State of the Housing Market address on Sunday, Gary Keller, the founder of Keller Williams Real Estate, provided a comprehensive update comparing historical trends in the real estate market and even made some predictions for 2023.

For many, 2022 felt like one of the worst years on record for real estate, yet historical data shows the market is nowhere near the lows of previous market cycles. In fact from a market value standpoint, 2022 was still one of the highest on record in sales volume. Why? Home appreciation has skyrocketed, but there is more to the story.

In the United States, the total number of home transactions dropped a significant amount, from 6.1M in 2021 to 5M in 2022. We haven’t seen a level this low since 2014.

 However, rising home appreciation is greatly impacting the national real estate economy. Nationally, the long-term trend in home appreciation is 4% annually. Yet home prices increased significantly, 12% above the 4% trend line in 2022.

This drove the total market volume to a near-record high of 2.53 trillion. And surprisingly, the total volume of the real estate market in 2023, is projected to reach $2.13 trillion even though appreciation is expected to decline by 1.0 percent.

But there are challenges ahead. In the last 12 months, mortgage rates have risen sharply as the Federal Reserve tries to control inflation and avoid a dramatic recession. This is putting a significant damper on home sales when last year’s interest rates could be found below 3% and now buyers are faced with a 6% rate. But 3% is not the norm. In fact, the historical average interest rate from 1972 through 2022 is 7.81%. The historical average interest rate from 1990 through 2022 is 5.97%.

Another challenge is affordability and inflation. Last year, affordability spiked to well above the long-term average putting homeownership out of reach for many. Used as a gauge of the economy’s health, in 2022 the Gross Domestic Product was down significantly from 2021 indicating that the attempt to cool the economy with higher rates is working, yet unemployment remains historically low.

For a deeper dive into this data, feel free to contact a KWJH agent to discuss this report, along with the local market trends as we head into 2023. 

Click here for the full deck.


2022 Star Valley Market Report

Our local team has pulled and analyzed the following data, providing insight into the past year and historical data that helps identify trends in the market. For a deeper understanding of these numbers, our local team in Star Valley is always available to discuss further.


2022 Teton Valley Market Report

Welcome to our 2022 year-end market report for Teton Valley. Our local team has pulled and analyzed the following data, providing insight into the past year and historical data that helps identify trends in the market. For a deeper understanding of these numbers, our local team here in Teton Valley is always available to discuss further.


Keller Williams Jackson Hole Year-End 2022 Market Report

As the world’s largest brokerage, Keller Williams dominates the landscape in real estate with its global reach. With a marketing platform that touches hundreds of thousands of potential clients each day, our clients can be assured that their listings are reaching qualified buyers around the globe.

Yet, what matters most when selling and buying real estate is in-depth market knowledge, market history and trends that only informed, local real estate professionals can provide. Our Keller Williams office is the fastest growing brokerage in Jackson Hole. Why? We are locally owned with seasoned local leadership and a dedicated support team. Our agents all share a passion for empowering their clients with up-to-date information and guidance that allows them to make the best real estate decisions possible.


We are your locally owned brokerage.

As the world’s largest real estate franchise
by agent count in the world and leader in unit
and sales volume in the United States Keller
Williams dominates the landscape in global real

We offer comprehensive services to investors,
property owners, tenants, and developers
around the world.

We know the strongest enterprises are driven
by top talent, and our professionals are among the best
across the globe.

K E L L E R W I L L I A M S IS #1



November 8th wrapped up election season and campaigners across Teton County took a collective sigh of relief. While everyone shifted their attention to post-election work, no group was more excited than the 15 SPET initiatives which, for the first time, all received passing votes. 

What is SPET?

SPET stands for Special Purpose Excise Tax also known as the “6th cent tax”. Through SPET, a penny of all sales in Teton County goes into a fund for projects and initiatives voted upon by the community. Interestingly, tourists contribute over 50% of our SPET funds and in the past, SPET funding has contributed to water quality, community safety, and more!

What passed?

This year, all 15 SPET initiatives passed, meaning over $150 million will go towards SPET projects. You can read about each SPET item here:

What does that mean for Teton County?

Gradually, SPET initiatives will access their funding and projects will come to fruition. With land and plans ready to roll, Central Wyoming College’s Jackson Center will likely be the first project to construction with others close behind.

SPET is an opportunity unique to Teton County where the community gets an active voice in improvements. This year’s SPET projects will bring:

  • Safe routes to schools, a park-n-ride facility, and greater access to public transportation
  • Expanded higher education programs
  • ADA and pedestrian accessibility improvements in the Town of Jackson
  • Preserved public access, state lands, and scenic spaces
  • Community solar, energy conservation, and emission reduction projects
  • Water quality improvements



With opening day just around the corner (November 25th, mark your calendars), it’s time to get excited about all the winter activities and Jackson Hole Mountain Resort has a handful of events and activities planned to get you out of the house and into the snow. 

Seasonal Events – The JHMR events docket is sure to please the youngest of kids to the grumpiest of grandfathers! With occasions spanning skiing with Santa, free ice skating, New Years’ fireworks, and an art installation emulating the Northern Lights, you’re sure to find something for everyone. Events:

Snow Sports – If you’re here for the powder, purchase lift tickets as soon as possible and save when you plan early. If you’re really committed, get the full use out of a season pass by securing yours close to opening day and shredding all season long. 

Lift tickets:

Season Pass:

Sightseeing – Plan a date or fun family adventure to the top of the mountain! The aerial tram will be open for limited hours on November 26th and 27th allowing visitors to take in 360-degree views of the Tetons, a peek at Corbet’s Couloir, and delicious waffles at Corbet’s Cabin. This experience is only available for a short time so make those memories while you can.

Tram Sightseeing:


Keller Williams Luxury Magazine – Jackson Hole

Keller Williams Jackson Hole is delighted to be on the cover of this quarterly Unique Homes publication featuring our spectacular Indian Springs residence, Eagle Crest. Read more about this unique home on pages 5-6 and learn more about our local office and our incredible Bar B Bar listing in the Wyoming section of the magazine. Explore more, including featured listings in Shootin Iron Ranch, the town of Jackson and Jackson Hole Mountain Resort.

More than just a magazine, this media platform consists of print, digital and online components. Complete with compelling lifestyle editorial, it offers a best-in-class representation for luxury listings with significant distribution channels. 

Print: A national print run of 20,000+. Distribution includes:

• Direct mailed to a proprietary list of consumers nationwide, targeting homes valued at $5 million and up.

• Direct mailed to contacts of KW Luxury Agents around the country.

• Polybagged with Unique Homes in bookstores in the U.S.

• Sent to KW Luxury Division Members and KW Luxury Market Centers.


• The digital version of KW Luxury Magazine is inserted into the Unique Homes digital magazine, which is distributed globally.

• The digital version is sent to KW luxury agents and can be placed on blogs, social media and agent websites.


• All advertised properties are uploaded to for one year. includes 45,000 luxury homes located in the U.S. and 75 additional countries.

• Contract advertisers receive a username/password to add unlimited properties to for 1 year.


Business Trends 2022: Women in Real Estate

Real estate is one of the few major industries where women have more of a foothold than men. Women make up 65% of the industry and more single females are homeowners than single men. Young professional women, aged 39 and younger are growing the business. Read more here, courtesy of Susan Meyer of The Zebra. Click here to learn more….

And be sure to check out today’s issue of the Jackson Hole News and Guide featuring local women in business including our exceptional team here at your local brokerage, Keller Williams Jackson Hole.


Keller Williams Jackson Hole is opening it’s doors with the best and brightest minds in the industry

As the industry leader in the luxury sphere of real estate, Keller Williams is a natural fit for Jackson Hole. Owned and managed by locals, Keller Williams Jackson Hole has the best of both worlds for buyers and sellers of real estate.

The local Keller Williams franchise is owned by real estate sales agent and developer Tyler Davis. Davis calls the new franchise “the best of both worlds” for “having a local feel, with local decisions, being locally owned. We’re a franchise but have a big brand behind us with technology and infrastructure.”

The move of more than 20 agents from Compass Real Estate in Jackson Hole, is described by those making the jump in determinedly polite terms, portrayed as a move to maintain the “local” character of their operations.

Chad Budge, from a longtime local family and a real estate man for 35 years, said that for him it came down to “when you’re local you make your own decisions.”

“I believe in local ownership,” Budge said. “That’s important to me being a native of the valley.”

Without zeroing in on any dissatisfaction with Compass, he said that since the sale “Compass owns the company, they call the shots,” and that he prefers a situation in which “all the decisions are made locally.”

David Neville, another person making the change, said that “until Compass bought Jackson Hole Real Estate Associates, I’ve always been with a locally owned firm” and that he and his partners “like to be in the mix of the leadership of a local company.”

“When you’re that large,” he said of Compass, “you have to get all your offices to operate the same … it has to be run from afar and they can’t have their pulse on everything like locals can.” Read the full article here.