Did i make the right Choice?

So I was dating this guy for a few weeks and we were really happy then all of a sudden he tells me he wants to break up. He never returned my calls or my texts after that. Never gave me an explanation as to why I wasn't good enough. Then a month later he texted me apologizing and wanted to meet me. He admits he don't want a relationship until he has that "ring" feeling. That he wants us to date and he's not looking for other girls right now and we can have sex if we want. So I told him I don't mind talking and hanging out but how am I suppose to have sex with someone I cared a lot for?! Or the fact he flat out tells me he don't see us going anywhere but I'm good enough to have sex with???? So I texted him saying I'm giving his sweater back and he said I don't have to, that he gave it to me. But I said yes I do because that was when we were together and it's not the same. I can't sit around waisting my time with someone who don't even know what he wants. Am I doing the right thing by walking away? Or should I just see where it leads?