Three months after the end of the homebuyer tax credit, housing market conditions look worse than ever, the Commerce Department reporting(.pdf) new home sales reached new record lows in July, slightly worse than the previous record low in May immediately after the U.S. government stopped “paying people to buy houses” as Robert Shiller recently quipped.

Sales of new homes fell 12.7 percent, from a downwardly revised annual rate of 315,000 in June to 276,000 in July, and, on a year-over-year basis, sales are now down 32.4 percent.

The inventory of unsold homes was unchanged at 210,000, however, due to the slower sales pace, the months of supply metric rose from 8.0 months to 9.1 months and it now takes almost a full year on average to sell a newly constructed home.