Most likely "Not".
It does not appear possible with Fedora and Anaconda to use/preserve an existing home partition in the installer wizard. While the wizard does recognize a drive with a previous version of Linux, it doesn't seem to do any work to "recognize" an existing /home partition.
Fedora's Documentation for F17 Installation has a "sticky note":
"If you are re-installing the same version of Fedora, preserve your user data by placing it on a separate /home partition. "
Evidently, if its necessary to re-install the same version, Anaconda will recognize the /home partition and preserve it as part of a Rescue use case. Only, I'm used to seeing unavailable options ghosted. (>_<)