Unfortunately, yes...he's kidding you. The whole, "Oh, I'm not looking for a relationship right now!" excuse is almost always (if not always) a BS excuse. Sorry to be the bearer of bad news, but he really hasn't told you his "reason" if he even has one, and at this point may not.

I've been where you are...it hurts. That's why it pains me to write the above paragraph. The only way I dealt with rejection was to not be rejected...by not liking anyone. Or as soon as I start liking someone, try to keep a very wary distance and not get too attached. I don't think that's practical for most people though...I wish I had a more practical solution.