US home remodeling sunny in summer and beyond

US home improvement projects, which traditionally peak in June, will flourish through 2015 on the back of a remodeling frenzy. In fact, a recent survey by SunTrust Banks, Inc. showed that 57 percent of homeowners plan to invest in home improvement projects this year. Moreover, the Home Improvement Research Institute expects renovations to increase nearly 6 percent YoY, 18 percent higher than 2014's growth rate.

The home improvement jag will be led by young homeowners performing routine maintenance or expanding their living spaces to accommodate growing families and incorporate more energy-efficient power sources.

Most of these projects are undertaken midyear so that tasks are completed before the summer heat in July kicks in. FatWallet said major home, yard and garden deals start in the first week of June and continue through the 4th of July. Moreover, for the second-straight year, FatWallet's Tools Shopping Survey listed Father's Day sales as the best time of the year to take advantage of tool deals.

Many indicators point to the great outdoors. Forty-three percent of participants in SunTrust's survey said they will invest in deck, patio or landscape remodeling while 24 percent of FatWallet's respondents said they want lawn and garden tools.

Cordless tools, meanwhile, are the fastest-growing category in terms of popularity as many DIYers take it upon themselves to undertake various home repair jobs. The tool subgroup will continue to offer opportunities for significant growth for the next several years.