This paper describes a new ultrasound-based system for high-frame-rate measurement of periodic motion in 2-D for tissue elasticity imaging. Similarly to conventional 2-D flow vector imaging, the system acquires the RF signals from the region of interest at multiple steering angles. A custom sector subdivision technique is used to increase the temporal resolution while keeping the total acquisition time within the range suitable for real-time applications. Within each sector, 1-D motion is estimated along the beam direction. The intra- and inter-sector delays are compensated using our recently introduced delay compensation algorithm. In-plane 2-D motion vectors are then reconstructed from these delay-compensated 1-D motions. We show that Young's modulus images can be reconstructed from these 2-D motion vectors using local inversion algorithms. The performance of the system is validated quantitatively using a commercial flow phantom and a commercial elasticity phantom. At the frame rate of 1667 Hz, the estimated flow velocities with the system are in agreement with the velocity measured with a pulsed-wave Doppler imaging mode of a commercial ultrasound machine with manual angle correction. At the frame rate of 1250 Hz, phantom Young's moduli of 29, 6, and 54 kPa for the background, the soft inclusion, and the hard inclusion, are estimated to be 30, 11, and 53 kPa, respectively.