The first three flicks were meant to lead to this, which, I guess ultimately they did, but based on the ending, I wouldn't be surprised if we see a Paranormal Activity 5.
This was somewhat of a bother, to say the least, as I(and maybe others), was under the impression that this film would nicely round off the PA franchise.

Oh how wrong I was.
PA4 was directed by 'Catfish' dudes Henry Joost and Ariel Schulman, who actually didn't do such a horrible job but in fact, managed to retain the overall feel and style consistent with that of it's predecessors.
Lamentably, the film itself was almost identical to the previous outings. How so? Noises, bangs, footsteps, and poltergeist buffoonery, all equated to nonsense we'd all seen before.
The ending, while admirable, lacked the punch the first did. It seemed to be 'there' for the sake of being, well, 'there'. There was no real explanation; it's as though we were expected to accept it's conclusion. I suppose the creators gave us more credit than we were due.
Paranormal Activity 4 offered several scenes which made the audience jump from their seats, but honestly, I'd say the novelty has worn off.
Stay tuned for Paranormal Activity 5 - THIS TIME, IT'S SUPERNATURAL.