What he really means is that he’s juggling multiple women and doesn’t want to get into anything until he figures out if the one he really wants is ’bout it. Basically, take a number and get in line. If the other top option(s) falls through, he’ll swing back and have a conversation about where he wants things to go with you.
Or, he’ll simply keep looking and let you play your part for as long as you’re willing to stay there. In rare instances, he’ll cut things off completely. If he does, know that in some roundabout way, he had your best interest in mind.