The foreclosure crisis appears to be tapering off as the number of people facing foreclosure is nearly flat compared to last year according to the latest report RealtyTrac, a private foreclosure listing service.

RealtyTrac reported Thursday that nearly 323,000 households, or one in every 400 homes, received a foreclosure-related notice in May. That was up 0.5 percent from the level same month last year but down 3 percent from April.

The report covers notices for defaults, scheduled home auctions and home repossessions. "It's not anything like a recovery yet," said Rick Sharga, a senior vice president at RealtyTrac Inc., a foreclosure listing service.

Among states, Nevada had the highest foreclosure rate in May. One in every 79 households there received a foreclosure notice. Nonetheless, foreclosures there are down 16 percent from a year earlier.

Arizona, Florida, California and Michigan followed with the highest foreclosure rates. To complete the top 10 were Georgia, Idaho, Illinois, Utah and Maryland.