Fabulists are authors of fables. Fabulism is a term used to describe books of Magical Realism written by authors who are not Latin. And as far as I can see it, fabulism never left. Books infused with magic and surreal elements blending with a realistic atmosphere are everywhere and loved by many. It's a world phenomenon to seek magic and enchantment in our lives, and a very healthy perspective for all cultures. I say, keep reading and championing Fantasy in Fiction!
To see that fabulism is still alive, a few authors of mention: Catherynne Valente, and Elizabeth Hand, who both live in Maine! See also Little Hands Clapping by Dan Rhodes. Please comment if you have other authors to suggest.