Looking ahead, the Commerce Department could reveal that housing starts rose to a 1.04 million pace in March from 897,000 in February, according to median estimates.

Along with their exposure to homebuilders, the sector-related ETFs also include some discretionary names that would also benefit from new home purchases and consumption as the U.S. sees higher wage growth and increased employment. For instance, ITB includes specialty retail 8.7% and building product companies 13.1%. XHB includes a heftier building products 28.5%, home furnishing retail 15.3%, home furnishing 9.5%, home improvement retail 6.1% and household appliances 5.9%. [The Stars Align for Homebuilder ETFs]

SPDR S&P Homebuilders ETF

For more information on the housing market, visit our homebuilders category.