Dynamic characteristics of travel behavior are analyzed in this paper using weekly travel diaries from two waves of panel surveys conducted six months apart. An analysis of activity engagement indicates the presence of significant regularity in weekly activity participation between the two waves. The analysis also shows a general lack of association between regularity in activity participation and change in person and household attributes, suggesting the presence of behavioral inertia or response lags. It is further shown that observed trip rates do not exhibit patterns that would be observed if travel behavior had no response lag and no history dependence. The results point to the needs for models that are capable of representing these aspects of travel behavior.