You may get different opinions, but here's mine
We start looking to book in March as early as July of the prior year. We tend to book the airfare and rent a timeshare. We just booked our airfare about a month ago and we are flying out at the end of March. The price of airfare went up considerably about a week or 2 after we booked it. It's really all a crapshoot. I'm not one to book last minute travel, however, people get some great rates when doing that. I need to know in advance what's going on. We purchased one flight, and go the other with mileage.
You can start to surf the web and see what kind of deals come up. Good Luck!