I'm not familiar with exterior wall designs. I notice that there are a few areas of my exterior wall where the paint flaked off. The flaked off paint is textured like stucco, drywall, and is thicker than normal paint that peels off. It didn't seem like the wall behind the paint was quite as textured as the paint. See photo.
Is what flaked off a (colored) stucco texture applied on top of the (concrete?) wall, and didn't bond well (at least over time, if not initially)? And is that 1 or 2 coats?
In its current state, how would you repair this, assuming I can find matching color. And is it ok to leave as is and not repair, and perhaps just brush on waterproofing sealant over the affected area? Probably be a pain to match color to repair a small area otherwise.