A nonvolatile resistive memory element has a novel variable resistance layer that includes a metal nitride, a metal oxide-nitride, a two-metal oxide-nitride, or a multilayer stack thereof. One method of forming the novel variable resistance layer comprises an interlayer deposition procedure, in which metal oxide layers are interspersed with metal nitride layers and then converted into a substantially homogeneous layer by an anneal process. Another method of forming the novel variable resistance layer comprises an intralayer deposition procedure, in which various ALD processes are sequentially interleaved to form a metal oxide-nitride layer. Alternatively, a metal oxide is deposited, nitridized, and annealed to form the variable resistance layer or a metal nitride is deposited, oxidized, and annealed to form the variable resistance layer.