The Facebook Home is an Android app that will make you smartphone friendlier with Facebook integration, in fact your phone will not be a phone, instead will become a Facebook phone. The app will be available on Google play from 12th April or you can pre-order the HTC first handset that will come pre-loaded with this app.
The Facebook Home will work with few selected devices like some HTC ONE, Samsung Galaxy models. The app with be updated monthly, more features will be add including support for additional android devices.
This Facebook app is kind of a launcher app that changes the look and feel of the home screen, with Facebook integration. You can view the latest Facebook updates directly on the home screen and even update your FB status directly. It is a good app for those who spend a lot of time on Facebook.
There are some new features like the Chat heads a kind of messaging service that allows you to chat via Facebook messenger or SMS. Whenever there is an alert from Facebook, users will see it on the screen no matter what they are doing. Users can then check it or simply remove it. The interface looks really cool.
To get a better idea of what Facebook home can do head on to https://www.facebook.com/home.