Around here where I live in Michigan, ammo shortages have been very real.
After people realized Obama would win, and the Democrats would retain control over Congress, people panicked and started hoarding ammo from what I've read and heard from ammo companies. Along with the fact that millions of new gun owners apparently bought guns and those guns need ammo.
Apparently, this is loosening up somewhat but my order for some bulk .38 Special from a reputable company (i.e., Georgia Arms) will take 2-3 months to fill due to backlog orders.
From my limited experience, and listening to other members at gun forums, the ammo shortage is very real FWIW.
The same type of thing occurred for people trying to buy new AR-15's but that shortage appears to have waned in recent weeks.