The use of more than one color on the exterior of homes has been a popular trend for a long time. And as tastes change across different regions of the country so do color intensities and choices. For example, in the northeast, invariant colors are popular among older Victorian homes. In the west, lighter colors are more the taste.
Start with a primary color for use on the body of the house and a secondary color to be used on the trim, like overhangs and doors. Then, choose a complimentary color as an accent. This is usually a strong color used sparingly on windowsills or shutters.
Picking house colors is like picking out shoes -- it's a matter of personal likes. But if you're having trouble deciding it may be useful to take a drive and look at the different colors on other homes in your town. Take note of combinations of colors you like. Remember, your neighbors will be the one's looking at your house more than you will be. Picking colors with the wrong aesthetics for your street may be a quick way to get uninvited to the block party summer BBQ.
Bonus Tip: Selling your home? Studies have shown that certain colors used on homes sell better than others. Do some research and find the most pleasing colors to buyers in your area.