Normally I would just chalk all these stucco cracks up to just another crappy install. Then I found this hole which as you can see by my fingers was about a 1 1/2" gap between the Stucco and the block behind it. Tried to look in with the flashlight, but all I could see was an empty void. I can’t even figure out how they could have installed this stucco. Perhaps they hit it with something hard enough to break the block apart behind it, but that doesn’t answer for the fact I could not feel any stucco lath or anything else behind it.
Possibly a wall protrusion now abandoned? Hose bib, light fixture, outlet, etc.
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Looks like block construction?
It is probably just a hole in the block and the “stucco” flaked off.
I say “stucco” because its just a lime/sand base that they skim over the block as a hard coat.
(No lathe or moisture barrier)
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Could be, any number of possibilities…
Therein lies part of the problem with all the cracks we see with stucco. The standards for stucco installation are crap as well as the inspections during construction. As per the 2010 FBC which refers to ASTM, there are any number of ways they can install - most of which I would not allow on my home. Regardless, it gets even better. It was written up in the report and obviously recommend for further evaluation by a qualified stucco professional. The buyer’s agent brought in a supposed stucco expert who turns out to be a friend of a friend of the agent, who claims “looks like a foundation issue.” Trying not to LOL during that conversation was tricky.
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I agree…
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If it is block construction, then the smaller cracks are common, and just need to be sealed and painted.
The hole is obviously just a cell in the block.
I would not even be concerned about it personally, other than having the hole repaired.
Yep, anyone without experience would look at block cracking and think foundation issue, but that is very rarely the case. And definitely not with these ones in the photo. It would have been hard not to laugh 
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Might be a bullet hole.
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That would be a heck of a bullet.
The pattern of the cracking looks like some foundation settling.
“Stucco does not appear to be installed to best practices. No evidence of lath. Damage, holes, and cracking in the stucco surface. Evaluation by a stucco expert is recommended.”