Florida’s biggest landowner, the St. Joe Co., believes the housing market may have reached the bottom, pointing to stabilization in the residential inventory.

St. Joe Co. CEO Peter Rummell says buyers must be “retrained” to recognize the importance of making home purchases now. He notes, “We have trained people to expect that prices are going to be lower tomorrow than today if they just wait. So now people are going to have to learn that they’ve gotten to that point.”