I have a widget area placed just before the loop. I'd like for this widget area to appear only on the home page, and not on post pages, category pages, etc. Is there a way to do this?

I used this code to place the widget area before the loop:
?php bfa_widget_area('name=My new widget area'); ?

Thanks in advance!

Try something like this.
<?php if( is_home() ) bfa_widget_area('name=My new widget area'); ?>

That worked beautifully. Thank you.