Goals from Willy Boly and Leo Bonatini in a dominant performance from Nuno Espirito Santo's side helped restore them to the top of the Championship table, also gifting them their first win at Carrow Road since 2007.
The Canaries had lost just once in their nine league games prior to the encounter and, speaking after the final whistle, Farke admitted that he was not too disappointed by the result.
"Normally I am very sad and annoyed and try to figure out the factors behind our defeat," he told reporters. "This is very easy. We have to accept we faced an opponent with a very high quality, with bigger quality than us.
"They were the better team, although it is annoying that we conceded two goals from set pieces. We could have won points from this game but the difference after 20 minutes was we had a set piece and hit the post with a header and they score.
"Yes, we could defend this situation better and for that they had the chance to sit back. They are so good on counters and with the quality of their offensive players it is impossible to control all the counter attacks.
"If you look objectively, then you have to admit Wolves had the better quality. I am not concerned because I had a realistic view of this squad. I spoke before the game about teams who might have better quality, when you look at a player like Ruben Neves for £16 million."
Next up for Norwich, who are ninth in the table, is a trip to basement side Bolton Wanderers on Saturday afternoon.