MARICOPA, Ariz.— No one here really knows why she bought a five-bedroom house in a sprawling subdivision, or if she even intends to live in it. But, already, Bristol Palin’s real estate acquisition has residents in one hard-hit desert neighborhood chatting about their hopes for a housing marking rebound.

To the surprise of many in this sleepy Phoenix suburb, the 20-year-old daughter of Sarah Palin who recently created her own celebrity as a “Dancing with the Stars” finalist, purchased a two-story home in a development of earth-toned houses on the edge of town.

And she got a good deal, too.

The two-story, 3,900-square-foot home in Maricopa’s Cobblestone Farm neighborhood was priced well over $300,000 when it was built in 2005. Palin paid $172,000 cash for the house late last month, according to Pinal County property records and information published on the region’s multiple listing service.

Palin’s new home “overlooks beautiful landscaped backyard with brick border and covered patio for year round entertaining. … Your friends & family will enjoy the lg backyard, perfect for volleyball, BBQs and more!” the MLS report boasted. The kitchen features “gorgeous tile backsplash” and the refrigerator is included.

Palin appears to be part of the trend that local Realtors say is helping to prop up the Maricopa housing market: A snowbird flocking down from the cold north (in her case, Wasilla, Alaska) to snap up newer, well-appointed houses that had been foreclosed or short-sold, often paying less than half of what they were worth a few years ago.

“Bristol saw the value,” said Jay Shaver, a Maricopa real estate broker familiar with the deal.

“It has been the talk of the town lately,” Heather Lumley, a waitress at the Sunrise Cafe, said as she wrapped up silverware for the lunch crowd. “They wonder if the housing market will go up with her buying here. Maybe we could see more celebrities come here.”

A spokesperson for the Palin family could not be reached for comment.

The city of Maricopa blossomed from the desert sand about 10 years ago. Although it’s considered a suburb of Phoenix, 35 miles south of downtown, driving there requires passing through an Indian reservation on a small highway where buzzards peck at road kill and tumbleweed drifts between cars. The smell of livestock raised nearby still wafts through town.

In 2002, the developers moved in. Houses sprouted up around the highway. In 2005, nearly 800 permits for new homes were filed in one month alone. Buyers were attracted to the reasonable prices — a house in Maricopa could often be bought for $100,000 less than a similar offering closer to Phoenix. Within a few years, the population had exploded to almost 40,000.

These days, more than three-quarters of home sales in Maricopa are distressed properties, real estate agents said. For-sale and foreclosure signs litter the well-manicured lawns throughout the half-dozen subdivisions that now make up the city; some of the houses were never finished.

But the Palin purchase has stirred conversation among her potential new neighbors about why, of all the places, she picked Maricopa.

“There’s not a lot of news going on around here, so it doesn’t take much to get us talking,” said Bill Wasowicz, a real estate agent. “Who’s to say? It’s a great spot. She’d be a little bit away from the media attention. Maybe she wants that small-town feel. The way she bought it, I don’t think she’d use it as only an investment.”

A survivor of 13 Alaskan winters himself, Wasowicz added, she could probably use an escape from the cold and darkness of her hometown of Wasilla. (Even amid rain on a recent dreary afternoon, Wasowicz was thankful for his environs. “Are you kidding?” he said. “This is beautiful.”)

Whatever her reason for coming, locals said, Palin, who has a 2-year-old son, Tripp, will fit in. They promise not to gawk too much, and she could lead a comfortable life here.

Cindy Dunn, whose family has farmed in Maricopa since the 1950s, drove by with her children to see the house. It may have struck other residents as an odd choice, but she said Maricopa is a conservative and inclusive place where people tend to avoid meddling in their neighbors’ affairs.

“It seems to me like they did their homework,” the floral shop owner said. “It doesn’t seem to be a random selection to me.”

Her parents, former Republican vice presidential nominee Sarah Palin and her husband, Todd, visited the city earlier in 2010. Mayor Anthony Smith said he hopes it’s just the start of a migration from Wasilla. “Maybe we’ll see more of the Palins move to Maricopa.”