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Airfares are falling this fall, but how long will it last?

Prices down 25% from summer travel time
Airline Passengers
Posted at 5:00 AM, Sep 29, 2023
and last updated 2023-09-29 05:00:02-04

After a spring and summer of sky-high airfares, prices are finally starting to drop.

Traveler Christopher Stach was pleasantly surprised.

"I've found the airfares to be a lot lower right now," he told us as he headed to catch his flight.

Tony Arn also found a great deal.

"They were a lot better this year," Arn said, "About 25% less, which was a lot more reasonable."

The travel site Hopper reports fall flights are actually down 29% compared to the summer peak.

Experts say it is the result of airlines reporting a slowdown in fall bookings this year, as two years of "revenge travel" begins to subside.

Domestic trips in September and October in the US averaged just $211 per ticket.

But how long will these low prices hold?

Katy Nastro with the travel platform Going says "experiences and attractions and hotel prices, you know, all aspects of the industry have come down slightly. So it is a more affordable time of the year to travel."

She says some of the best deals to snag this fall are flights to Europe.

"We found Chicago to Rome for only $495 round trip. Even better, New York to Dublin for $369 round trip on full service airlines," she said.

If you're holiday planning, Nastro says prices will be more affordable than last year, but you should buy those peak season flights three to seven months out.

So, the window for finding cheap winter flights is closing.

"Waiting till the last minute is not a good tactic, you'll probably encounter not only expensive flights but ridiculously expensive flights," she said.

Traveler Paul Sorke realizes he'll have to pay more over the holidays.

But if you are booking a flight for the fall, he says, "they are super cheap and you can afford to fly to a lot of places."

So don't wait long to book your travel, even for next spring, so you don't waste your money.

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