I got burned out on horror long ago. In general, horror films seem not to involve great writing or great characters, which are what I look for in films. Also, I do not dwell on negative feelings/moods, which are predominant in horror films.
Which is not to say that there aren't ever any exceptions, or that some great horror films aren't still being made. But most of them are crap (same as any other genre - MOST of it is crap).
And there may be great examples of non-American horror films, but frankly, for a genre like horror, I have no interest in reading dubbed English subtitles in a non-English film. A genre like horror should focus on enough visual cues (lighting, mood, visual effects, etc) that I would want to catch all of that, and not miss anything by reading. And English overdubs just suck in general.
That's just me.
Having said all that, I saw The Babadook and thought it was fantastic. I also heard great things about The Witch and it's on my list.