This problem in bininstall target seems to exist since Python 2.7 and 3.1.

bininstall target depends on altbininstall target, which contains:

        @for i in $(BINDIR) $(LIBDIR); \
        do \
                if test ! -d $(DESTDIR)$$i; then \
                        echo "Creating directory $$i"; \
                        $(INSTALL) -d -m $(DIRMODE) $(DESTDIR)$$i; \
                else    true; \
                fi; \
        done

For consistency with other things, I would suggest to add the following at the beginning of bininstall target (instead of making bininstall target depend on libainstall target):

        @for i in $(LIBPC); \
        do \
                if test ! -d $(DESTDIR)$$i; then \
                        echo "Creating directory $$i"; \
                        $(INSTALL) -d -m $(DIRMODE) $(DESTDIR)$$i; \
                else    true; \
                fi; \
        done