In your output there is no repo's configured. What are the output your getting through yum, all are installed packages.
if yum is configured it will show the repo name (your repo name)
Yes, that is correct output. From the yum nanpage:
yum list [all | glob_exp1] [glob_exp2] [...]
List all available and installed packages.
yum list available [glob_exp1] [...]
List all packages in the yum repositories available to be
installed.
yum list updates [glob_exp1] [...]
List all packages with updates available in the yum
repositories.
yum list installed [glob_exp1] [...]
List the packages specified by args. If an argument does not
match the name of an available package, it is assumed to be a
shell-style glob and any matches are printed.
yum list extras [glob_exp1] [...]
List the packages installed on the system that are not available
in any yum repository listed in the config file.
yum list obsoletes [glob_exp1] [...]
List the packages installed on the system that are obsoleted by
packages in any yum repository listed in the config file.
yum list recent
List packages recently added into the repositories. This is
often not helpful, but what you may really want to use is "yum
list-updateinfo new" from the security yum plugin.
Yum allows you to install and update software packages from multiple repositories, without having to know which package comes from which repository - Yum tracks and manages all of that for you.
How are you patching and updating your system, if not through yum?
yum check-update
yum update
Those are the two commands I use to check for any available updates, and then to install those updates.
You can do the same thing manually with RPM, but why? It's a whole lot faster and easier using Yum.