Homebuilder exchange traded funds are looking to extend their dramatic rally this week as markets get reports on housing prices and new home sales.

Last week, the Commerce Department revealed that housing starts increased in September.

SPDR S&P Homebuilders (NYSEArca: XHB) is up 16.86% over the last month and is almost above its 200-day exponential moving average. The iShares Dow Jones U.S. Home Construction (NYSEArca: ITB) is up 14.24% over the last month.

New-home sales show the number of newly made homes that are set to sell this month. The data reveal housing market trends and affect economic momentum in basic consumer purchases. [Homebuilder ETFs Rally on Housing Data, Rebound Hopes]

Data for new-home sales on Wednesday may reveal the housing market is stabilizing as the lower interest rates could have bolstered sales, according to Bloomberg.

Federal Reserve Bank of New York President William C. Dudley said that the Fed’s decision to reinvest proceeds from maturing housing debt to mortgage-backed securities showed their “concern about the level of mortgage spreads” and their “interest in supporting the housing market.”

Additionally, new-home sales may have recovered as buyers previously refrained from purchasing new homes in the Southeast and Eastern parts due to the hurricane season.