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Examining the ratings for the comedy, Ghosts season 5 is likely to be renewed. In data from December (via TVLine), Ghosts was the second most-watched comedy on broadcast television.
The average for the total audience in season 4 so far, when including delayed viewership across seven days, comes in at 7.5 million viewers. It gets 0.66 in the key 18-49 demographic. Although it represents a decline from previous seasons, the show has largely held steady.
The comedy, an adaptation of a British sitcom, with Joe Port and Joe Wiseman as showrunners for the American version, still has a lot of stories to work through. None of the spirits in the main Ghosts cast have crossed over, which is a major story thread the series will have to address at some point.
Fortunately, the CBS show has enough popularity that it should receive a renewal and be able to explore these crucial developments.
CBS has not yet made any announcements about the renewal of its scripted shows, save for the confirmation that Matlock season 2 is happening.
It may be the case that the network has already quietly renewed hits like Ghosts, and may be waiting to formally announce the news. In any case, as the broadcast season comes to a close, more should be learned in the coming weeks and months.