The Punxsutawney Effect: Why a Home Price Surge in Phil’s Hometown Offers Hope for the U.S. Housing Market

The nation’s most famous groundhog, Punxsutawney Phil, made headlines on Friday when he didn’t see his shadow, indicating spring is just around the bend. But what might be even more remarkable is the real estate market in Phil’s hometown of [Punxsutawney, PA](https://www.realtor.com/realestateandhomes-search/Punxsutawney_PA), about 90 minutes northeast of [Pittsburgh](https://realtor.com/realestateandhomes-search/Pittsburgh_PA). Home prices in the small rural town
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