crzywrter:
YA fiction is new
No it isn't. YA fiction's been around for ages - easily going back to Lewis Carroll. What is new is the fact that publishers and the market are paying more attention to it.
crzywrter:
Harry Potter though it is a kids book, opened the door for YA Fiction/Fantasy
Harry Potter is generally viewed by the market as a series of books that goes from middle-grade to the YA markets, with the themes darkening as the series progresses. Although Harry Potter did not open the door for YA fiction or fantasy (both of which had been happily in existence for years before Potter himself was a gleam in Rowling's eye), the force of sales forced publishers to sit up and take the market more seriously. Stephenie Meyer has helped to continue this trend.
At the moment, everyone's looking for the next break-out book and many publishers are looking at expanding or creating a YA range. However, this doesn't mean that the adult market for fantasy is dead.
Paranormal romance and urban fantasy are both doing very well at the moment - so much so that bookstores are beginning to create specific paranormal romance sections within their stores. One of the biggest advances paid in 2009 for a novel was for an old-fashioned dark fantasy/horror about vampires.
However, like
Danthia said, what's hot now might not be what's hot in 2012/2013. It's not a brilliant idea to write for trends, but if you're telling a good story, there's always going to be a market for it.
MM