Global housing prices are increasing at the fastest rate since before the financial crisis 15 years ago, according to Bloomberg. Median prices went up 7.3 percent in the year leading up to March – the quickest increase since the fourth quarter of 2006, according to Knight Frank’s global house price index report.

Turkey was number one in the report, with an increase of 32 percent. The U.S. came in fifth worldwide at 13.2 percent, the biggest increase since December of 2005.

In Mountain View, California, for example, a 4,300-square-foot house recently sold in only six days for $1 million above the asking price, according to NBC News.

“That’s probably a little bit of an extreme, but it’s not really totally unusual,” Jeff Lamont, a real estate broker with Coldwell Banker, said. “I have properties that I’ve dealt with here in San Mateo County, 3, 4, 500,000, 800,000 over.”

Home sales in the Bay Area alone have increased 101 percent from a year ago, according to the California Association of Realtors. Some analysts now have concerns about bubbles in the market. Some countries are already taking steps to curb this. New Zealand is now getting rid of tax incentives for people who invest in properties.

“With governments taking action and fiscal stimulus measures set to end later this year in a number of markets, buyer sentiment is likely to be less exuberant,” Knight Frank wrote in the report.