I guess the question is, do you count sitting in a schoolroom as socialization? Homeschooling is a lot more efficient in terms of time spent, and since with a year-round schedule you can have less to do per day as well, you'll have lots more time left over for extracurriculars and
real socialization. Of course, the socialization won't come to you - you'll have to find out what activities are available in your area (swim team, drama club, martial arts, Civil Air Patrol, field trips organized by homeschool groups, etc.) so you can participate.
Also, a lot of schools allow homeschoolers to participate in extracurriculars, and this is something you should check out with your school.
A thread debating this topic...