5.56 is a bit expensive now at $450 or more for a case of 1000. Not the best time to stock up.
But if you do not have any you shout get some.
My favorite LGS got in a couple of pallets of .223 and 5.56 a few weeks ago. Its priced at $549.00/1000, half-cases are $309/500. During ALL of the panic-buying and shortages they've never price- gouged (unlike most of the other LGSs), so I believe that is the "new normal" for now. I don't think there'll be a glut on the market anytime soon.
I don't shoot much .223 and I have a bit stashed away but at $450/1000 I'd pick up at least a couple of cases.