Selling primary home because of hot market

[Neil Henderson]

So, I overheard a guy at lunch today telling his friend he was going to sell his primary home here in Las Vegas because "the market is too over heated. I'm going to sell, take my gains and rent for awhile until the market cools off." If I heard him correctly (I was eaves dropping after all) he said the price to rent ratio in his neighborhood had hit ".5%" and it was "time to sell". I assume that means he could rent a place in his neighborhood for .5% of what it would cost to buy. (I.e. a $200,000 house would rent for $1,000 a month). Seemed extreme to me but got me thinking if there are any RE investors out there who have any similar "time to sell" market indicators; whether it be for an investment property or a primary residence.