Lots of things! But I am not sure where to start since I'm not sure how many months you've been away.
We have imaginary homes. Type /home and you can go there to decorate. It's only the first part of a series of releases in this vein.
"Soon" the second large part of that release will be out and will include the ability to expand our houses more (not just decorate) and expand/change the land they have around them.
The other day they had a mini release of some new skills that go hand in hand with these changes and some new furniture and decorations to play with in our new housing.
Sooo.. that's the most recent happenings in the past month.
Edited again to fix some misinformation about imagination to go along with the blog post's information. For some reason I misremembered about imagination coming with R2 where we get to do further construction on our home areas. The blog says that will happen after the initial testing on R2.