Yes this. Everyone who has no intention of selling their home (in a Georgist manner) could list their house for 5x the going market rate (youd probably sell if

Yes this. Everyone who has no intention of selling their home (in a Georgist manner) could list their house for 5x the going market rate (youd probably sell if and then this metric would be effectively 100% and yet many houses would still sell. This number is therefore mostly a reflection of a strong selling market since it's encouraging people to list who otherwise might not bother.