The pandemic has caused a particularly long lasting impact on the bike industry. One of the contributing reasons to the short supply is due to a positive change--more people are buying bikes because more people want to ride bikes! Personally, I've been having a great time introducing new riders to cycling at my store, even while having to have difficult conversations around limited availability of product.
The bike industry's inability to scale to demand right now are for varied and complex reasons. Here's a couple of great articles that shed some insight into the bike shortage:
For REI, we are starting to see some bikes trickle in; for example, the CTY 1.1 is currently available after a long period of unavailability.
Hopefully next year things will normalize, but until then, our bike shops are happy to answer questions you might have about your next bike purchase, or about current bike repairs.