Developer nDreams announced that PlayStation Home will be shutting down March 31, 2015.
PlayStation Home has been serving the PS3 community since December 2008. During that time, tens of millions of users around the world have grown the social gaming platform into a thriving community of creative and enthusiastic gamers.
Due to a shifting landscape, PlayStation Home will cease publishing new content on November 12, 2014. Gamers in the U.S. and Canada will be able to download content until December 3, 2014. As a token of our tremendous gratitude to the community, we will also be releasing a series of free content prior to the platform’s closure on March 31, 2015.
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Source: PlayStation Blog