ATTOM Data Solutions reported Thursday that 53,638 single family homes and condos were flipped nationwide in the second quarter of 2017, a home flipping rate of 5.6% of all home sales during the quarter. The home flipping rate of 5.6% in Q2 2017 was down from 6.9% in the previous quarter but unchanged from a year ago.

For the report, a home flip is defined as a property that is sold in an arms-length sale for the second time within a 12-month period.

The report also showed an average gross flipping profit of $67,516 for homes flipped in the second quarter, representing a 48.4% return on investment (ROI) for flippers — down from 49.0% in the previous quarter and down from 49.6% in Q2 2016 to the lowest level since Q3 2015.