"On the way home" — "to" preposition [duplicate]
Solution 1:
Yes, your understanding is correct.
The word home may be not only a noun, but also an adverb, an adjective and even a verb (The Free Dictionary). In your example, on my way home, home is an adverb meaning the direction, in which someone/something is headed, i.e. towards a location, they call home.
Home certainly can be used with preposition towards (not sure if it can be used with to) but usually people tend to omit unnecessary words in speech. Thus on my way home is the most common form.