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EXPEDIA SUMMER TRAVEL FORECAST: FLIGHT SEARCHES UP 25%, INTEREST SURGING FOR INTERNATIONAL DESTINATIONS

EXPEDIA SUMMER TRAVEL FORECAST: FLIGHT SEARCHES UP 25%, INTEREST SURGING FOR INTERNATIONAL DESTINATIONS
PR Newswire
SEATTLE, April 11, 2023

U.S. travelers are in it for the long haul, with New Zealand, Japan and Vietnam among the summer’s trending …

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EXPEDIA SUMMER TRAVEL FORECAST: FLIGHT SEARCHES UP 25%, INTEREST SURGING FOR INTERNATIONAL DESTINATIONS

PR Newswire

SEATTLE, April 11, 2023

U.S. travelers are in it for the long haul, with New Zealand, Japan and Vietnam among the summer's trending hotspots

SEATTLE, April 11, 2023 /PRNewswire/ -- Today, Expedia® released its Summer Travel Forecast, providing key insights to help Americans plan and save on their summer vacations. According to Expedia data, flight searches are up 25% overall for June through August compared to the same time last year, and interest is up triple digits for international destinations across Europe and Asia. In addition, average ticket prices drop $125 from their peak in early July to August.

Experience the full interactive Multichannel News Release here: https://www.multivu.com/players/English/9084352-expedia-summer-travel-forecast/

"This summer, travelers are clearly ready to dust off their passports and embrace jet lag as they set off overseas," says Melanie Fish, head of Expedia Group brands public relations. "The data shows the sweet spot for saving on summer airfare is right around the corner, but these days you can actually guarantee you're getting a great deal by tracking flights on the Expedia app or adding Price Drop Protection to your flight, which automatically refunds you if the price drops after you book."

Summer Destination Trends

While U.S. travelers are returning in droves to popular destinations including New York and Cancun, the biggest year-over-year increases are for longer-haul destinations including Auckland, Hong Kong and Osaka. Despite average flight ticket prices sitting higher than last summer, strong demand trends indicate travelers are ready to make the most out of their summer vacations.

Top 5 Domestic

1.  New York

2.  Los Angeles

3.  Seattle

4.  Orlando 

5.  Las Vegas

Top 5 International

1.  Cancun

2.  London

3.  Rome

4.  Punta Cana

5.  Paris

Trending:

1.  Auckland, New Zealand

2.  Hong Kong

3.  Osaka, Japan

4.  Da Nang, Vietnam

5.  Hanoi, Vietnam

*Based on Expedia flight demand as of April 1, 2023, for travel during June to August

Since reopening its borders last fall, Japan continues to see incredible interest and is one of the fastest-growing international destinations year-to-date for U.S. travelers. Flight searches for summer are up triple digits compared to the same time period last year for Osaka (+592%), Tokyo (+290%) and Kyoto (+265%).

How to Save on Summer Travel

The sweet spot to save on domestic airfare and save around 8% is 21 to 60 days out, while Americans planning summer trips abroad should book as soon as possible for the best rates.

Prices can fluctuate in the lead-up to departure, but with Expedia's Price Drop Protection travelers can get refunded for the difference if the flight becomes cheaper after they book. Launched earlier this year in the Expedia app, Price Drop Protection is available on most flights for a nominal fee, currently with no annual limits on refunds.

Best & Worst Times to Fly

Least-busy Day: Thursday, Aug. 24 

Cheapest Day: Sunday, Aug. 27 

Busiest Day: Saturday, July 1 

Most Expensive Day: Saturday, July 1 

To save on airfare, travel during late August and avoid holiday weekends. Average ticket prices drop an average of $125 compared to the peak in early July. Meanwhile, the July Fourth weekend is currently the busiest and most expensive weekend of the summer for air travel. ATPs for the holiday weekend are 12% higher than average for the month.

Read more tips for saving on flights and start your summer vacation planning here.  

Notes to Editor 

Visual Assets: Destination image and infographics available for download.

Data sources:

  • Top destinations and fastest-growing destinations based on Expedia flight demand as of April 1, 2023, for travel during June to August 2023.
  • Japan search data based on Expedia flight searches as of March 20, 2023, for travel during June to August 2023.
  • Trending destinations were selected from list of fastest-growing destinations based on Expedia flight demand for June to August travel.
  • Sweet spot booking window based on Expedia flight demand for June to August 2022 travel.
  • Best/Worst times to fly based on Expedia flight demand as of April 1, 2023, for travel during June to August 2023.

Tips for navigating travel disruptions:

  • According to Expedia's 2023 Air Travel Hacks Report, departing before 3 p.m. cuts your chance of flight cancellation in half, so take the early flight.
  • Demand is high, and airlines are still operating fewer flights than pre-pandemic. That means full flights are expected this summer, so make sure you arrive at the airport early and give yourself plenty of time to get through security. 
  • Pack light and take a carry-on. That way, there's less chance your luggage gets lost in situations of delays or cancellations. 
  • Check your passport expiration date and make sure it's valid for a minimum of 6 months past your travel dates.

Tips to save on your summer getaway:

  • Price Tracking & Predictions takes the guesswork out of deciding when to book airfare by alerting travelers when flight prices change. Free on the Expedia app, the feature uses decades of proprietary flight-shopping data, AI and machine learning to compare today's flight price with historical price trends to help travelers make an informed decision on the best time to book their chosen route.  Download demo and screenshots here.
  • With Price Drop Protection, originally launched in 2017 as Price Match Promise, travelers can get a refund if the price of their flight drops on Expedia after they book. Price Drop Protection is available for most flights for a nominal fee, currently with no annual limit on refunds.
  • Book airfare, hotel and car at the same time on Expedia, otherwise known as bundling, which can instantly unlock hundreds of dollars/an average of $300 or 10% in savings. 
  • Sign up for loyalty and frequent flier programs, or risk leaving money on the table. Expedia members earn Rewards points for every booking that can be redeemed as dollars off on the next trip.
  • Earn air miles on top of Expedia points by entering mileage plan numbers at checkout, which is an easy way to double-dip and rack up travel rewards even faster. 

About Expedia
Expedia® is one of the world's leading full-service travel brands, with a mission of helping travelers get the most out of every trip they take by providing everything they need all in one place and, above all else, feel supported every step of the way.  

Our commitment to insights matched with our unprecedented scale allows us to understand our travelers better than anyone else, delivering exactly what they need, when they need it. Our personalized experiences backed by incredible technology enable us to deliver the widest selection of product offerings across accommodations, transportation, activities and experiences, helping you get the most out of your journey.  

Use our mobile app or visit expedia.com to plan your journey with us.  

© 2023 Expedia, Inc., an Expedia Group company. All rights reserved. Trademarks and logos are the property of their respective owners. CST: 2029030-50 

Follow Expedia on Instagram, TikTok, Pinterest, Twitter and YouTube. 

 

View original content:https://www.prnewswire.com/news-releases/expedia-summer-travel-forecast-flight-searches-up-25-interest-surging-for-international-destinations-301794475.html

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Aging at AACR Annual Meeting 2024

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging…

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March 11, 2024

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BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals. 

Credit: Impact Journals

BUFFALO, NY- March 11, 2024 – Impact Journals publishes scholarly journals in the biomedical sciences with a focus on all areas of cancer and aging research. Aging is one of the most prominent journals published by Impact Journals. 

Impact Journals will be participating as an exhibitor at the American Association for Cancer Research (AACR) Annual Meeting 2024 from April 5-10 at the San Diego Convention Center in San Diego, California. This year, the AACR meeting theme is “Inspiring Science • Fueling Progress • Revolutionizing Care.”

Visit booth #4159 at the AACR Annual Meeting 2024 to connect with members of the Aging team.

About Aging-US:

Aging publishes research papers in all fields of aging research including but not limited, aging from yeast to mammals, cellular senescence, age-related diseases such as cancer and Alzheimer’s diseases and their prevention and treatment, anti-aging strategies and drug development and especially the role of signal transduction pathways such as mTOR in aging and potential approaches to modulate these signaling pathways to extend lifespan. The journal aims to promote treatment of age-related diseases by slowing down aging, validation of anti-aging drugs by treating age-related diseases, prevention of cancer by inhibiting aging. Cancer and COVID-19 are age-related diseases.

Aging is indexed and archived by PubMed/Medline (abbreviated as “Aging (Albany NY)”), PubMed Central, Web of Science: Science Citation Index Expanded (abbreviated as “Aging‐US” and listed in the Cell Biology and Geriatrics & Gerontology categories), Scopus (abbreviated as “Aging” and listed in the Cell Biology and Aging categories), Biological Abstracts, BIOSIS Previews, EMBASE, META (Chan Zuckerberg Initiative) (2018-2022), and Dimensions (Digital Science).

Please visit our website at www.Aging-US.com​​ and connect with us:

  • Aging X
  • Aging Facebook
  • Aging Instagram
  • Aging YouTube
  • Aging LinkedIn
  • Aging SoundCloud
  • Aging Pinterest
  • Aging Reddit

Click here to subscribe to Aging publication updates.

For media inquiries, please contact media@impactjournals.com.

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked…

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11 hours ago

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March 11, 2024

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NY Fed Finds Medium, Long-Term Inflation Expectations Jump Amid Surge In Stock Market Optimism

One month after the inflation outlook tracked by the NY Fed Consumer Survey extended their late 2023 slide, with 3Y inflation expectations in January sliding to a record low 2.4% (from 2.6% in December), even as 1 and 5Y inflation forecasts remained flat, moments ago the NY Fed reported that in February there was a sharp rebound in longer-term inflation expectations, rising to 2.7% from 2.4% at the three-year ahead horizon, and jumping to 2.9% from 2.5% at the five-year ahead horizon, while the 1Y inflation outlook was flat for the 3rd month in a row, stuck at 3.0%. 

The increases in both the three-year ahead and five-year ahead measures were most pronounced for respondents with at most high school degrees (in other words, the "really smart folks" are expecting deflation soon). The survey’s measure of disagreement across respondents (the difference between the 75th and 25th percentile of inflation expectations) decreased at all horizons, while the median inflation uncertainty—or the uncertainty expressed regarding future inflation outcomes—declined at the one- and three-year ahead horizons and remained unchanged at the five-year ahead horizon.

Going down the survey, we find that the median year-ahead expected price changes increased by 0.1 percentage point to 4.3% for gas; decreased by 1.8 percentage points to 6.8% for the cost of medical care (its lowest reading since September 2020); decreased by 0.1 percentage point to 5.8% for the cost of a college education; and surprisingly decreased by 0.3 percentage point for rent to 6.1% (its lowest reading since December 2020), and remained flat for food at 4.9%.

We find the rent expectations surprising because it is happening just asking rents are rising across the country.

At the same time as consumers erroneously saw sharply lower rents, median home price growth expectations remained unchanged for the fifth consecutive month at 3.0%.

Turning to the labor market, the survey found that the average perceived likelihood of voluntary and involuntary job separations increased, while the perceived likelihood of finding a job (in the event of a job loss) declined. "The mean probability of leaving one’s job voluntarily in the next 12 months also increased, by 1.8 percentage points to 19.5%."

Mean unemployment expectations - or the mean probability that the U.S. unemployment rate will be higher one year from now - decreased by 1.1 percentage points to 36.1%, the lowest reading since February 2022. Additionally, the median one-year-ahead expected earnings growth was unchanged at 2.8%, remaining slightly below its 12-month trailing average of 2.9%.

Turning to household finance, we find the following:

  • The median expected growth in household income remained unchanged at 3.1%. The series has been moving within a narrow range of 2.9% to 3.3% since January 2023, and remains above the February 2020 pre-pandemic level of 2.7%.
  • Median household spending growth expectations increased by 0.2 percentage point to 5.2%. The increase was driven by respondents with a high school degree or less.
  • Median year-ahead expected growth in government debt increased to 9.3% from 8.9%.
  • The mean perceived probability that the average interest rate on saving accounts will be higher in 12 months increased by 0.6 percentage point to 26.1%, remaining below its 12-month trailing average of 30%.
  • Perceptions about households’ current financial situations deteriorated somewhat with fewer respondents reporting being better off than a year ago. Year-ahead expectations also deteriorated marginally with a smaller share of respondents expecting to be better off and a slightly larger share of respondents expecting to be worse off a year from now.
  • The mean perceived probability that U.S. stock prices will be higher 12 months from now increased by 1.4 percentage point to 38.9%.
  • At the same time, perceptions and expectations about credit access turned less optimistic: "Perceptions of credit access compared to a year ago deteriorated with a larger share of respondents reporting tighter conditions and a smaller share reporting looser conditions compared to a year ago."

Also, a smaller percentage of consumers, 11.45% vs 12.14% in prior month, expect to not be able to make minimum debt payment over the next three months

Last, and perhaps most humorous, is the now traditional cognitive dissonance one observes with these polls, because at a time when long-term inflation expectations jumped, which clearly suggests that financial conditions will need to be tightened, the number of respondents expecting higher stock prices one year from today jumped to the highest since November 2021... which incidentally is just when the market topped out during the last cycle before suffering a painful bear market.

Tyler Durden Mon, 03/11/2024 - 12:40

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Homes listed for sale in early June sell for $7,700 more

New Zillow research suggests the spring home shopping season may see a second wave this summer if mortgage rates fall
The post Homes listed for sale in…

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March 11, 2024

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  • A Zillow analysis of 2023 home sales finds homes listed in the first two weeks of June sold for 2.3% more. 
  • The best time to list a home for sale is a month later than it was in 2019, likely driven by mortgage rates.
  • The best time to list can be as early as the second half of February in San Francisco, and as late as the first half of July in New York and Philadelphia. 

Spring home sellers looking to maximize their sale price may want to wait it out and list their home for sale in the first half of June. A new Zillow® analysis of 2023 sales found that homes listed in the first two weeks of June sold for 2.3% more, a $7,700 boost on a typical U.S. home.  

The best time to list consistently had been early May in the years leading up to the pandemic. The shift to June suggests mortgage rates are strongly influencing demand on top of the usual seasonality that brings buyers to the market in the spring. This home-shopping season is poised to follow a similar pattern as that in 2023, with the potential for a second wave if the Federal Reserve lowers interest rates midyear or later. 

The 2.3% sale price premium registered last June followed the first spring in more than 15 years with mortgage rates over 6% on a 30-year fixed-rate loan. The high rates put home buyers on the back foot, and as rates continued upward through May, they were still reassessing and less likely to bid boldly. In June, however, rates pulled back a little from 6.79% to 6.67%, which likely presented an opportunity for determined buyers heading into summer. More buyers understood their market position and could afford to transact, boosting competition and sale prices.

The old logic was that sellers could earn a premium by listing in late spring, when search activity hit its peak. Now, with persistently low inventory, mortgage rate fluctuations make their own seasonality. First-time home buyers who are on the edge of qualifying for a home loan may dip in and out of the market, depending on what’s happening with rates. It is almost certain the Federal Reserve will push back any interest-rate cuts to mid-2024 at the earliest. If mortgage rates follow, that could bring another surge of buyers later this year.

Mortgage rates have been impacting affordability and sale prices since they began rising rapidly two years ago. In 2022, sellers nationwide saw the highest sale premium when they listed their home in late March, right before rates barreled past 5% and continued climbing. 

Zillow’s research finds the best time to list can vary widely by metropolitan area. In 2023, it was as early as the second half of February in San Francisco, and as late as the first half of July in New York. Thirty of the top 35 largest metro areas saw for-sale listings command the highest sale prices between May and early July last year. 

Zillow also found a wide range in the sale price premiums associated with homes listed during those peak periods. At the hottest time of the year in San Jose, homes sold for 5.5% more, a $88,000 boost on a typical home. Meanwhile, homes in San Antonio sold for 1.9% more during that same time period.  

 

Metropolitan Area Best Time to List Price Premium Dollar Boost
United States First half of June 2.3% $7,700
New York, NY First half of July 2.4% $15,500
Los Angeles, CA First half of May 4.1% $39,300
Chicago, IL First half of June 2.8% $8,800
Dallas, TX First half of June 2.5% $9,200
Houston, TX Second half of April 2.0% $6,200
Washington, DC Second half of June 2.2% $12,700
Philadelphia, PA First half of July 2.4% $8,200
Miami, FL First half of June 2.3% $12,900
Atlanta, GA Second half of June 2.3% $8,700
Boston, MA Second half of May 3.5% $23,600
Phoenix, AZ First half of June 3.2% $14,700
San Francisco, CA Second half of February 4.2% $50,300
Riverside, CA First half of May 2.7% $15,600
Detroit, MI First half of July 3.3% $7,900
Seattle, WA First half of June 4.3% $31,500
Minneapolis, MN Second half of May 3.7% $13,400
San Diego, CA Second half of April 3.1% $29,600
Tampa, FL Second half of June 2.1% $8,000
Denver, CO Second half of May 2.9% $16,900
Baltimore, MD First half of July 2.2% $8,200
St. Louis, MO First half of June 2.9% $7,000
Orlando, FL First half of June 2.2% $8,700
Charlotte, NC Second half of May 3.0% $11,000
San Antonio, TX First half of June 1.9% $5,400
Portland, OR Second half of April 2.6% $14,300
Sacramento, CA First half of June 3.2% $17,900
Pittsburgh, PA Second half of June 2.3% $4,700
Cincinnati, OH Second half of April 2.7% $7,500
Austin, TX Second half of May 2.8% $12,600
Las Vegas, NV First half of June 3.4% $14,600
Kansas City, MO Second half of May 2.5% $7,300
Columbus, OH Second half of June 3.3% $10,400
Indianapolis, IN First half of July 3.0% $8,100
Cleveland, OH First half of July  3.4% $7,400
San Jose, CA First half of June 5.5% $88,400

 

The post Homes listed for sale in early June sell for $7,700 more appeared first on Zillow Research.

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