All of the other calibers are returning to normal and I've seen some excellent deals from
www.sgammo.com but while .22 has come down from scalper prices, and it's back on shelves, I don't think it will ever return to pre-2008 levels.
Rim fire production requires big, expensive machines. More so than centerfire, because the machines can only do the one caliber, they can't be retooled for a run of another caliber should demand shift. So, the production capacity is constrained, and none of the manufacturers want to get caught with big capital equipment that is underutilized, so they're not investing in .22 production capacity. As demand for .22 has dropped off from ludicrous levels, it remains higher than a decade ago because there are more shooters now. It's not just hoarding going on, it's also changes in demographics.
I believe that the hoarding is over. People were hoarding in the past 8 years because they feared new gun control measures, including ammunition restrictions. Those restrictions are no longer a threat on the Federal level, though on the state level, many states, notably Connecticut and California, have restricted sales through various measures.
There was an interesting interview about three or four years ago with the CEO of Hornady about the ammo "shortage" in one of the gun magazines, G&A, or American Rifleman, I think. Very interesting reading. Despite the crushing demand for .22, they weren't going to invest in more rimfire production capacity because it didn't make long term sense for the company. They were making capital investment in more centerfire production, and they were running extra shifts and hiring more workers in response to demand, but he was leery of rimfire, because in the long run, they wouldn't make back the investment.