ZOM Living hasn't been derailed by the pandemic. The multifamily developer closed the first quarter with 16 projects under construction, a total of 5,500 units mostly focused in growth markets in the southeast and southwest. The robust pipeline shows reveals an optimistic market outlook, despite the challenges brought on by the pandemic last year.

"We are definitely bullish on the sector in general, but particularly in the southern markets. We are seeing a significant uptick in demand in rental housing in the southeast and the southwest," Greg West, president and CEO of ZOM Living, tells GlobeSt.com.

While the pandemic certainly affected multifamily activity—largely in terms of rent collection—ZOM actually saw an increase in demand due to new population and job growth in its select markets, which include Texas, Florida, North Carolina and Arizona. "We have seen the movement of people, of course, but more importantly we are seeing an increase of jobs that are moving into these southern markets. Where the jobs move, so does the demand for housing," says West.