No way. Sea levels are up. Here's what NASA data shows:
https://climate.nasa.gov/vital-signs/sea-level/
How can you look at the graph and honestly say sea level is down? The stock market is up about 2000 points since the start of the year. But, it lost a dozen points last Wednesday. By your reasoning, the market is down.  Sure, it was down on Wednesday but the TREND over the last year is up, up, up. Likewise with sea level rise. It's clear from the data there are a few minor, temporary dips like 2011. But the trend over the last century is up, up, up.

You see, if lots of rain or snow is dumped on land, that water is no longer in the ocean. Sea level is lower. When the snow melts and water flows through the valleys, guess where it's gonna go? So, we expect short-term weather-dependent ups and downs imposed on the long-term upward trend of rising seas and downward trend in snow cover.