The photos do not appear to have the same cutout for a physical home button as the iPhone 6/6s which may align with rumors that the device will have a flush ‘3D Touch’ Home button. Please note the image is upside so the home button would be at the top.
The Home button on the iPhone 7 and iPhone 7 Plus is said to be a Force Touch design, meaning it won’t be a physical button that clicks down, as it has been in every previous iPhone model. It will use haptic feedback to inform the user that they’ve pressed the button to go home.
As it stands right now, it’s expected that the iPhone 7 family will be unveiled on September 7, and that it will go up for pre-order on September 9. The launch is expected to happen on September 16.
[Source]