Yes correct - DNS propergation.
Let's take this for example.
Code:
123.456.789.1 - Taken (reserved)
123.456.789.2 - Taken (reserved)
123.456.789.3 - www.your-website.com
123.456.789.4 - <nothing>
So you're checking out your site, then change your IP of the website. The list is as follows.
Code:
123.456.789.1 - Taken (reserved)
123.456.789.2 - Taken (reserved)
123.456.789.3 - <nothing> "What you looking for? Can't find it - I'll show the apache page"
123.456.789.4 - www.your-website.com
But your computer (until DNS updates) will still look at the orginal IP, for usually 4 hours. Of course, DNS can take up to 72 to fully do it's thing.
Change IPs sparingly, or take note it can take a while to sort itself