The Calgary real estate market has sustained and lengthy setback over the past 4 years. Although Calgary is no stranger to real estate cycles, the most recent downturn is not responding like previous downturns in Calgary. If you look at previous downturns in Calgary, prices and sales have fallen quickly and rebounded quickly. For example, in 2008 prices fell quickly but by mid 2009, prices were pack on the upswing. Calgary’s current real estate market downturn has been a gradual blow over the course of 4 years with further drops anticipated for 2019.