A damp band that runs along the base of every wall and persists after the surrounding surface has dried is a location clue, not a material clue. Anything wrong with the mix or the coating would show up in patches wherever the defect occurred, not in a stripe at a consistent height above grade. That geometry points to water arriving from below: stucco in contact with soil, or terminating without the weep screed that is supposed to stop the wall short of grade and let absorbed water drain out. Once the wall wicks, moisture moves up through the assembly by capillary action and keeps the base saturated long after rainfall. The consequence behind the stucco is what matters — sustained moisture at the base of the wall reaches sheathing and framing, which is where decay begins.