A guy I have been "seeing" says he isn't ready for a relationship?

May or may not be as complicated as I would like to see it. However, for the past 4-5 months I have been "seeing" this really nice guy. I put seeing in quotations because we really don't have a title on what we are, or what we are doing, but it feels like something that might be headed toward a relationship of some kind later down the road. He's a really awesome person, fun to be around, and affectionate. He started acting kinda strange a couple days ago, but I didn't say anything so I just let him have his space. He texted me while he while he was working and says I need to call you. He never ended up calling just texting me that he wasn't ready for a relationship. We talked briefly about it in person later that day. He says he still really likes me (he's said he loves me 3 times) and would like to continue to hang out and be friends until he can figure out what he wants/needs. I'm confused. I told him that I would completely leave him alone until he contacted me when he was ready, to give him time to think about things. He apologizes, says hes sorry and reiterates that he still likes me a lot and that I'm the nicest coolest girl he's ever met, and I get in my car and leave. A tiny bit of back story. He's been married once before, and is nervous about getting into something else. He said he's falling for me and is "up in his own head" about getting back into a relationship, which I can understand, and I'm perfectly fine with. I myself wasn't wanting to rush into anything, and in my personal opinion what we had going was nice and I hadn't even begun to put a label on things. Also, I have not told him I love him, I wasn't ready for that yet. So my question is what's the deal? You like/love me and then drop me like a cold fish? I can understand if he's not ready for labels and the jealousy that may or may not come with them, cause I don't think I'm ready for that either. So what should I do? Leave him alone, be friends even though we both like each other, or drop him all together? He's got my head swimming in 8 million different directions and even HE can't make his mind up. I would particularly love some feedback from men, even though I'm sure many men don't go searching through the love and relationship tab. I like him, he likes me, but something isn't adding up. Any advice is appreciated.