Pulling out my Cloudy Crystal Ball(tm):
Steampunk is peaking. We’re going to see a rash of it for about 2 years as the bandwagoners finally get to the shelves. Cyberpunk…not happening. Mythpunk/Bronzepunk, give it five more years.
Vampires are hot, but a lot of people are burning out. I give them 2-3 years before they return to perennial favorite status.
Werewolves are mostly over. Shapeshifters in general have about another year in non-wolf form.
Historicals…I foresee a rash of medievals because of the upcoming Robin Hood movie. There will probably be more than a few reworkings of that legend too (ahead of the curve again, me).
Pirates are over. They’re stuck back with highwaymen in the “decent seller, not trending.”
Zombies are peaking. They have about three more years. There are only so many ways to write them. They’re starting to get into romance and erotica, so as an SF/horror trend they are pretty much done.
Contemporaries, Cowboys and Cops are perennials. Always a strong seller. Historical westerns, not so much in the m/m genre. I don’t see them getting out of niche.
SF/Fantasy has always been risky in our genre. It’s got some potential, but I really don’t see it happening for another five to ten years.
Faeries and Nephilim are the things I’m seeing more of. I’m reading two books right now with Nephilim involved.
This is me, talking based on what i’m seeing from small presses and NY houses, and at the grass-roots level. We’ll see how right I am.