According to Travelocity's Memorial Daybooking data, domestic airfare is down two percent year-over-year with the average cost at $341,six dollars less than it was in 2012. The average cost to fly internationally for the holiday is $981, a one percent decrease from last year.

"While a two percent decrease in domestic airfare may not seem like much, in recent years we have seen average airfare prices steadily rise year-over-year during the holidays," explains Courtney Scott , senior editor at Travelocity. "A drop in price year-over-year is a welcome sign for travelers on the hunt for a deal this Memorial Day."

Out of the top ten destinations, airfares to Washington, D.C. and Chicago have seen the largest decrease in cost, down six percent and three percent respectively.  New York City has held the number one most popular spot since 2011 and Denvermade a jump from the ninth most popular last year to the fifth most popular this year.  

The average daily rate for a Memorial Day hotel booking is $157, an increase of nearly seven percent year-over-year.  "To ensure maximum savings, travelers should consider taking advantage of last-minute sales and bundle their flight and hotel together when they book to lock in savings of up to $525," said Scott.

Top Ten Most Popular Destinations for Memorial Day 2013
According to Travelocity's booking data, the most popular destinations for 2013 are: