American homeowners are looking to spend an average of nearly $7,000 on their homes in the next 3 months- and it's good news for Home Depot and Lowe's

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The survey found that respondents are interested in spending an average of $6,360 on home improvement in the coming months.

• A report from UBS found that more American homeowners plan to tackle home-improvement projects this year.
• According to a survey of 2,000 adults, these consumers are planning on spending an average of nearly $7,000 fixing up their homes over the next few months.
• Home Depot and Lowe's stand to gain from this boost in home-improvement spending.

American homeowners are planning to drop a pretty penny on springtime home-improvement projects.

And, according to the latest report from UBS, that's great news for home-improvement giants Home Depot and Lowe's.

UBS' survey of 2,000 adults found that 59% of respondents are gearing up to tackle a home-improvement project in the next three months. That percentage is up three points from last year. These homeowners are primarily driven by an interest in improving their home's look, fixing broken stuff around the house, and taking on projects that they've put off.

The report from analysts Michael Lasser, Atul Maheswari, Michael Goldsmith, and Mark Carden also found that a total of 60% of respondents plan to hit up either Home Depot or Lowe's to stock up on all the necessary home-improvement gear.

A total of 39% of homeowners expect to get their supplies at Home Depot, while 21% are planning on a Lowe's run.

Read more: A financial analyst breaks down the biggest differences between Home Depot and Lowe's - and explains which retailer has the edge

These two groups of consumers are propelled by different motivations, too. Of the Home Depot shoppers, 21% said they wanted to take advantage of the chain's low prices. Lowe's tended to attract people who live near one of its stores.

One thing the entire group of prospective customers has in common, though, is a desire to drop a significant chunk of change on these projects. Respondents plan to spend an average of $6,360 - up 19% from last year - on home improvement in the coming months. And 66% of respondents said they have all the money they need to finance the work.

This potential uptick in spending would be good news for Home Depot and Lowe's. Others, like Credit Suisse's Seth Sigman, have predicted that year-over-year increases in home-improvement spending will peter off in 2019.