NCS Credit Lien Index 2023 Q1
The Lien Index decreased 4 points in Q1 2023 to 49, an 8% decrease from revised Q4 2022 and a 20% increase year over year.
Mechanic’s lien activity plummeted 28% in the West, driving the overall Index down in Q1. (Note: it’s possible the revised Q1 numbers will rise for the West region, as it seems uncharacteristically low.)
The Midwest experienced no change from Q4 2022 to Q1 2023, and the Northeast and South experienced a slight increase.
The Index may have registered a decrease over last quarter’s revision, but the year-over-year increases are telling. Over the last 12 months, the economic battle winds have blown payments well beyond timely terms, and even stopped payments entirely.
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