Murphy also revealed a little about the premise of the new season: a romance set is modern day. I'm okay with the bringing the series back to modern times, but I must add that it did a nice job in season two as a period piece mixed with modern elements.
Nevertheless, a third season is welcomed with open arms.
American Horror Story co-creator/executive producer Ryan Murphy lifted the veil a bit on the upcoming third installment of the FX horror series. At a screening of the season finale tonight, he confirmed that the storyline in season three will be a romance set in modern times, and that Sarah Paulson and Evan Peters will join star Jessica Lange on the next cycle. All three appeared both in American Horror: Asylum, whose finale airs next Wednesday, and the original American Horror Story.Source: Deadline