These statistics refer only to air fares, and the analysis doesn't evaluate what you lose out on in terms of choice and timings of flights. Most people booking late are more likely to have to grab what they can get rather than choose what they want. But if you haven't booked a Christmas or New Year escape, and you intend to do so, now is the best time to do it. It is highly unlikely that prices will fall farther, and choice and availability will diminish rapidly.