Usually I advice to build PostgreSQL from source as it gives the most flexibility. Another option is to use the official yum repositories. There is one repository for each supported release of PostgreSQL and most of the common RedHat based Linux distributions are listed: CentOS, Oracle Linux, RedHat, Fedora, Scientific Linux and even Amazon Linux.

Currently PostgreSQL 9.6 is in active development and new features get developed and committed. So lets try to add to the PostgreSQL 9.6 repository. I assume I do not need to say that the 9.6 version is not for anything else than testing at the moment.

As I am only Oracle Linux 7 with my VM I downloaded the repository rpm for this version. Once this is transferred to the VM installation is easy:

root@oel7 tmp] yum localinstall pgdg-oraclelinux96-9.6-1.noarch.rpm
Loaded plugins: ulninfo
Examining pgdg-oraclelinux96-9.6-1.noarch.rpm: pgdg-oraclelinux96-9.6-1.noarch
Marking pgdg-oraclelinux96-9.6-1.noarch.rpm to be installed
Resolving Dependencies
--> Running transaction check
---> Package pgdg-oraclelinux96.noarch 0:9.6-1 will be installed
--> Finished Dependency Resolution

Dependencies Resolved

========================================================================================================================================================
 Package                                Arch                       Version                   Repository                                            Size
========================================================================================================================================================
Installing:
 pgdg-oraclelinux96                     noarch                     9.6-1                     /pgdg-oraclelinux96-9.6-1.noarch                     2.2 k

Transaction Summary
========================================================================================================================================================
Install  1 Package

Total size: 2.2 k
Installed size: 2.2 k
Is this ok [y/d/N]: y
Downloading packages:
Running transaction check
Running transaction test
Transaction test succeeded
Running transaction
  Installing : pgdg-oraclelinux96-9.6-1.noarch                                                                                                      1/1 
  Verifying  : pgdg-oraclelinux96-9.6-1.noarch                                                                                                      1/1 

Installed:
  pgdg-oraclelinux96.noarch 0:9.6-1                                                                                                                     

Complete!

Lets see what is available:

[root@oel7 tmp] yum search postgresql96
Loaded plugins: ulninfo
============================================================== N/S matched: postgresql96 ===============================================================
postgresql96-debuginfo.x86_64 : Debug information for package postgresql96
postgresql96.x86_64 : PostgreSQL client programs and libraries
postgresql96-contrib.x86_64 : Contributed source and binaries distributed with PostgreSQL
postgresql96-devel.x86_64 : PostgreSQL development header files and libraries
postgresql96-docs.x86_64 : Extra documentation for PostgreSQL
postgresql96-libs.x86_64 : The shared libraries required for any PostgreSQL clients
postgresql96-plperl.x86_64 : The Perl procedural language for PostgreSQL
postgresql96-plpython.x86_64 : The Python procedural language for PostgreSQL
postgresql96-pltcl.x86_64 : The Tcl procedural language for PostgreSQL
postgresql96-server.x86_64 : The programs needed to create and run a PostgreSQL server

Not as much as in the PostgreSQL 9.5 repo (e.g. all the utilities like pg_top) but it is perfect for testing new features. So lets install PostgreSQL 9.6:

[root@oel7 tmp] yum install postgresql96-server.x86_64
Loaded plugins: ulninfo
Resolving Dependencies
--> Running transaction check
---> Package postgresql96-server.x86_64 0:9.6-git20160121_1PGDG.rhel7 will be installed
--> Processing Dependency: postgresql96-libs(x86-64) = 9.6-git20160121_1PGDG.rhel7 for package: postgresql96-server-9.6-git20160121_1PGDG.rhel7.x86_64
--> Processing Dependency: postgresql96(x86-64) = 9.6-git20160121_1PGDG.rhel7 for package: postgresql96-server-9.6-git20160121_1PGDG.rhel7.x86_64
--> Processing Dependency: postgresql96 = 9.6-git20160121_1PGDG.rhel7 for package: postgresql96-server-9.6-git20160121_1PGDG.rhel7.x86_64
--> Running transaction check
---> Package postgresql96.x86_64 0:9.6-git20160121_1PGDG.rhel7 will be installed
---> Package postgresql96-libs.x86_64 0:9.6-git20160121_1PGDG.rhel7 will be installed
--> Finished Dependency Resolution

Dependencies Resolved

========================================================================================================================================================
 Package                                 Arch                       Version                                            Repository                  Size
========================================================================================================================================================
Installing:
 postgresql96-server                     x86_64                     9.6-git20160121_1PGDG.rhel7                        pgdg96                     4.4 M
Installing for dependencies:
 postgresql96                            x86_64                     9.6-git20160121_1PGDG.rhel7                        pgdg96                     1.2 M
 postgresql96-libs                       x86_64                     9.6-git20160121_1PGDG.rhel7                        pgdg96                     204 k

Transaction Summary
========================================================================================================================================================
Install  1 Package (+2 Dependent packages)

Total download size: 5.8 M
Installed size: 24 M
Is this ok [y/d/N]: y
Downloading packages:
(1/3): postgresql96-9.6-git20160121_1PGDG.rhel7.x86_64.rpm                                                                       | 1.2 MB  00:00:00     
(2/3): postgresql96-libs-9.6-git20160121_1PGDG.rhel7.x86_64.rpm                                                                  | 204 kB  00:00:01     
(3/3): postgresql96-server-9.6-git20160121_1PGDG.rhel7.x86_64.rpm                                                                | 4.4 MB  00:00:01     
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total                                                                                                                   2.5 MB/s | 5.8 MB  00:00:02     
Running transaction check
Running transaction test
Transaction test succeeded
Running transaction
  Installing : postgresql96-libs-9.6-git20160121_1PGDG.rhel7.x86_64                                                                                 1/3 
  Installing : postgresql96-9.6-git20160121_1PGDG.rhel7.x86_64                                                                                      2/3 
  Installing : postgresql96-server-9.6-git20160121_1PGDG.rhel7.x86_64                                                                               3/3 
  Verifying  : postgresql96-9.6-git20160121_1PGDG.rhel7.x86_64                                                                                      1/3 
  Verifying  : postgresql96-server-9.6-git20160121_1PGDG.rhel7.x86_64                                                                               2/3 
  Verifying  : postgresql96-libs-9.6-git20160121_1PGDG.rhel7.x86_64                                                                                 3/3 

Installed:
  postgresql96-server.x86_64 0:9.6-git20160121_1PGDG.rhel7                                                                                              

Dependency Installed:
  postgresql96.x86_64 0:9.6-git20160121_1PGDG.rhel7                        postgresql96-libs.x86_64 0:9.6-git20160121_1PGDG.rhel7                       

Complete!

When you install from the official repositories all will be installed here:

[root@oel7 tmp] ls /usr/pgsql-9.6/
bin  lib  share
[root@oel7 tmp] ls /usr/pgsql-9.6/bin/
clusterdb   dropdb    pg_archivecleanup  pg_controldata  pg_isready      pg_rewind       pg_xlogdump                postmaster
createdb    droplang  pg_basebackup      pg_ctl          pg_receivexlog  pg_test_fsync   postgres                   psql
createlang  dropuser  pgbench            pg_dump         pg_resetxlog    pg_test_timing  postgresql96-check-db-dir  reindexdb
createuser  initdb    pg_config          pg_dumpall      pg_restore      pg_upgrade      postgresql96-setup         vacuumdb

Creating, starting and connecting to a new PostgreSQL 9.6 instance is straight forward from now on:

[root@oel7 tmp] su - postgres
Last login: Fri Jan 22 09:37:34 CET 2016 on pts/1
postgres@oel7:/home/postgres/ [dummy] mkdir data
postgres@oel7:/home/postgres/ [dummy] /usr/pgsql-9.6/bin/initdb -D data/
The files belonging to this database system will be owned by user "postgres".
This user must also own the server process.

The database cluster will be initialized with locale "en_US.UTF-8".
The default database encoding has accordingly been set to "UTF8".
The default text search configuration will be set to "english".

Data page checksums are disabled.

fixing permissions on existing directory data ... ok
creating subdirectories ... ok
selecting default max_connections ... 100
selecting default shared_buffers ... 128MB
selecting dynamic shared memory implementation ... posix
creating configuration files ... ok
running bootstrap script ... ok
performing post-bootstrap initialization ... ok
syncing data to disk ... ok

WARNING: enabling "trust" authentication for local connections
You can change this by editing pg_hba.conf or using the option -A, or
--auth-local and --auth-host, the next time you run initdb.

Success. You can now start the database server using:

    /usr/pgsql-9.6/bin/pg_ctl -D data/ -l logfile start

postgres@oel7:/home/postgres/ [dummy] /usr/pgsql-9.6/bin/pg_ctl -D data/ -l /var/tmp/pg96.log start
server starting

postgres@oel7:/home/postgres/ [dummy] psql postgres
Null display is "NULL".
Timing is on.
psql (9.6devel)
Type "help" for help.

Here we go.

Btw: There are apt repositories as well, if you are on a debian based distribution.