(WSB Radio) -- An online real estate analyst is reporting housing values in suburban metro Atlanta are holding their values better than homes closer to downtown Atlanta.

WSB's Sandra Parrish reports

Zillow.com's latest Real Estate Market Report shows values have dropped 8.3 percent within ten miles of downtown Atlanta while values have falled less in cities 10 to 20 miles out like in Chamblee and Douglasville.  The report shows cities 20 to 30 miles out like Duluth and Woodstock fell 7.4 percent and 5.5 percent in cities 30 to 40 miles out like Dacula and Sugar Hill.

"Certainly companies that were out there pushing those pay-option ARM's hit some neighborhoods harder than others and where see masses of those kind of mortgages you're seeing massive amounts of foreclosures at this time," says WSB real estate expert Ilyce Glink.

According to Zillow.com the housing values in metro Atlanta are opposite of trends in other cities where urban areas are holding their housing values better than suburban areas.

Glink says it could take years for values to rebound to their 2006 high, maybe as slow as a two to three percent gain a year.