The value of contracts for future construction in the metropolitan area plunged 31 percent in May compared with a year ago, according to a new report.

Dodge Data & Analytics, an industry information service, reported Thursday that contracts worth $3.7 billion for all future building were awarded in May in the 23-county region that includes Long Island, down from $5.3 billion in May 2015.

Nonresidential contracts, for commercial properties such as offices, hotels, factories and warehouses, totaled $1.8 billion in May, a 34 percent drop year over year.

Residential contracts fell 28 percent to $1.9 billion.