For the sake of completeness, I am posting a solution using heapq. Note, this method will work for both numeric and non-numeric values
>>> x = {1: 2, 3: 4, 4:3, 2:1, 0:0}
>>> x_items = x.items()
>>> heapq.heapify(x_items)
>>> #To sort in reverse order
>>> heapq.nlargest(len(x_items),x_items, operator.itemgetter(1))
[(3, 4), (4, 3), (1, 2), (2, 1), (0, 0)]
>>> #To sort in ascending order
>>> heapq.nsmallest(len(x_items),x_items, operator.itemgetter(1))
[(0, 0), (2, 1), (1, 2), (4, 3), (3, 4)]