Should I contact him?

I dated this guy about two summers ago and he went off to college and we ended on alright terms. Didn’t talk at all for 1.5 years until he moved back and we started talking again. We have been hanging out for a little over 2 months, spent holidays together and he was 100% acting like a bf. two days ago I asked him what his intentions were and he basically told me he’s too busy for a girlfriend but he doesn’t see me as just friends and doesn’t want this to mean we go silent and stop talking. I said I’m cool with being friends without the intimacy and if things change in the future that’s okay. Well after that convo I haven’t heard from him. He made it clear that he still wanted to talk so I’m confused. I’ve been holding back from contacting him bc im not sure that’s that right thing to do. Should I reach out to him or just let things fizzle out?