Homes flipped in the second quarter of 2018 yielded an average gross return on investment of 44.3%, down from 47.8% in the previous quarter and down from 50.0% in Q2 2017 to the lowest average gross flipping ROI since Q3 2014, according to the ATTOM Data Solutions U.S. Home Flipping Report released Thursday.

The report shows a total of 48,768 U.S. single family homes and condos were flipped in the second quarter of 2018, a home flipping rate of 5.2% of all sales — down from a 6.6% home flipping rate in Q1 2018 and down from a 5.4% home flipping rate in Q2 2017.