I am confused about the following claim: "The only values in the untyped lambda calculus are lambda-abstractions".
Why are the other terms not values? What does it mean for a lambda-abstraction to be a value? The first thing that came to my mind was that maybe lambda-abstractions are the only possible normal forms, but this is not true of course, e.g. $(\lambda x.\; x)\;y \to y$.
Can someone enlighten me?