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It’s no secret the Valley housing industry has taken a hit over the past year, with homes selling for significantly less and staying on the market longer than during the 2005 housing heyday. While that hit has gone straight to home builders’ bottom lines, many still are seeing increased revenue. Four of the six publicly traded home builders either based in Arizona or with significant operations here reported higher annual revenue and lower annual profit than in 2005. That disparity results from incentives and price cuts builders had to offer to sell excess inventory built during the 2005 housing bubble, analysts say. More…