The Calgary Real Estate Board says housing sales plummeted in December.
CREB figures point to a decline of sales of single family homes of 47 per cent last month. Only 449 homes were sold compared to 846 in December 2007.
The average price of a single family home also fell to $417,398 down six per cent from December 2007.
In a written release, CREB President said 2008 was a reasonable year but pointed out a poor showing in the third quarter.
Meanwhile, the average price of a house in Canada is likely to decline by three per cent this year as sales activity continues to cool, according to Royal LePage Real Estate Services.
The number of residential resale transactions is forecast to decline 3.5 per cent nationally, though the country's largest realty franchiser expects there will still be local warm spots.
Nationally, the average house price is forecast to dip to $295,000, down from $304,000 in 2008, which was off from $307,265 in the peak year of 2007.
In major cities, Royal LePage predicts a 2009 price gain of one per cent in Halifax to $234,300, a one per cent decline in Montreal to $254,400, little change in Ottawa at $291,000, a four per cent pullback in Toronto to $364,800, a four per cent gain in Winnipeg to $204,900, a six per cent boost in Regina to $243,300, one per cent slippage in Calgary to $402,000, flat prices in Edmonton at $333,000 and a nine per cent drop in Vancouver to $540,100.
