Foreclosure filings — including default notices, scheduled auctions and bank repossessions — were reported on 681,153 U.S. properties in the first quarter of 2011, down 15 percent from the previous quarter and down 27 percent from the first quarter of 2010, according to the latest figures by RealtyTrac. One in every 191 U.S. homes received a foreclosure filing during the quarter.

Lenders foreclosed on 215,046 properties during the first quarter, down 6 percent from the fourth quarter of 2010 and down 17 percent from the first quarter of 2010. Some 197,113 U.S. properties received default notices for the first time during the quarter, a decline of 17 percent from the previous quarter and a 35 percent decline from the first quarter of 2010. Foreclosure auctions also decreased 19 percent from the previous quarter and 27 percent from the first quarter of 2010, affecting 268,995 properties.

In March, foreclosure filings rose 7 percent from February, affecting 239,795 properties, but they were still down 35 percent from a year ago, when 367,056 households received a foreclosure notice. This is the highest monthly total since January 2005 when RealtyTrac began tracking foreclosures. Default notices also rose 16 percent in March from the previous month, but were still down 37 percent from a year ago.

Nevada continues to have the highest foreclosure rate in the country, with one in every 35 housing units receiving a foreclosure filing during the first quarter of 2011, even though foreclosure activity dropped 10 percent from the previous quarter. But in March Nevada’s foreclosure activity surged 35 percent after declining for two straight months. Arizona had the second highest foreclosure rate in the nation during the first quarter with one in every 60 housing units receiving a foreclosure filing, followed by California with one in every 80 units receiving a foreclosure filing.