We are really on track for a soft landing. There are no balloons popping.

Housing activity has peaked. There are no balloons popping.

What we have here is still the soft-landing scenario we've been predicting over this year. I suspect the increase we have in this report is an aberration because of the weather.

The air is coming out of the balloons.

The continuing shortages of housing inventory are driving the price gains. There is no evidence of bubbles popping.

There seems to be some air coming out of some of these balloons.